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Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below] On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Sharper declares and immediately distributes a 50% stock dividend. Common stock$10 par value, 120,000 shares authorized, 78,000 shares issued and outstanding $ 780,000 Paid-in capital in excess of par value, common stock 340,000 Retained earnings 730,000 Total stockholders' equity $1,850,000 Exercise 11-7 Stock split LO P2 Assume that instead of distributing a stock dividend, Sharper did a 3-for-1 stock split Required: (1) Prepare the updated stockholders' equity section after the split. (2) Compute the number of shares outstanding after the split. Required: (1) Prepare the updated stockholders' equity section after the split. (2) Compute the number of shares outstanding after the split. Q Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the updated stockholders' equity section after the split. Common stock $ 1,170,000 6 Paid-in capital in excess of par value. common stock 0 340,000 0 Retained earnings 340,000 6 Total stockholders' equity $ 1,850,000 Required: (1) Prepare the updated stockholders' equity section after the split. (2) Compute the number of shares outstanding after the split. Q Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the number of shares outstanding alter the split