Gilligan Corporation was established on February 15, Year 1. Gilligan is authorized to issue 500,000 shares...

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Gilligan Corporation was established on February 15, Year 1. Gilligan is authorized to issue 500,000 shares of $10 par value common stock. As of December 30, Year 1, Gilligan's stockholders' equity accounts report the following balances: Common stock, $10 par, 500,000 shares authorized 50,000 shares issued and outstanding Paid-in capital in excess of par - Common Retained earnings $ 500,000 100,000 $ 600,000 545,000 $ 1,145,000 Total Stockholders' Equity On December 31, Year 1, Gilligan decides to issue a 5% stock dividend. At the time of issue, the market price of the stock was $30 per share. What is the number of shares outstanding after the stock dividend is issued? Gilligan Corporation was established on February 15, Year 1. Gilligan is authorized to issue 500,000 shares of $10 par value common stock. As of December 30, Year 1, Gilligan's stockholders' equity accounts report the following balances: Common stock, $10 par, 500,000 shares authorized 50,000 shares issued and outstanding Paid-in capital in excess of par - Common Retained earnings $ 500,000 100,000 $ 600,000 545,000 $ 1,145,000 Total Stockholders' Equity On December 31, Year 1, Gilligan decides to issue a 5% stock dividend. At the time of issue, the market price of the stock was $30 per share. What is the number of shares outstanding after the stock dividend is issued?

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