7. value: 1.60 points Exercise 11-5 Stock dividends and splits LO P2 On June 30, 2015, Sharper Corporation's common stock is priced at $30.50 per share before any stock dividend or split, and the stockholders' equity section of its balance sheet appears as follows Common stock-$8 par value, 65,000 shares authorized 26,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $208,000 100,000 308,000 Total stockholders' equity 616,000 1. Assume that the company declares and immediately distributes a 100% stock dividend. This event is recorded by capitalizing retained earnings equal to the stock's par value. Answer these questions about stockholders' equity as it exists after issuing the new shares a.,b.&c. Complete the below table to calculate the retained earnings balance, total stockholders' equity and number of outstanding shares Answer is complete but not entirely correct. Before Stock Impact of Stock Dividend After Stock Dividend Stock Dividend Common stock Paid in capital in excess of par value Total contributed capital Retained Earnings Total Stockholders' Equity Dividend $ 208,000 00,000 308,000 308,000 $ 616,000 0 X $ 208,000 100,000 308,000 308,000 0 S 616,000 0 Number of common shares outstanding 2026,000 52,000