required information\n(the following information applies to the questions displayed below.)\non june 30…

required information\n(the following information applies to the questions displayed below.)\non june 30, sharper corporations stockholders equity section of its balance sheet appears as follows before any stock\ndividend or split. sharper declares and immediately distributes a 50% stock dividend.\ncommon stock-$10 par value, 66,000 shares issued and\noutstanding $ 660,000\npaid-in capital in excess of par value, common stock 200,000\nretained earnings 700,000\ntotal stockholders equity $ 1,640,000\ncomplete this question by entering your answers in the tabs below.\nrequired 1 required 2\ncompute the number of shares outstanding after the distribution is made.\nnumber of common shares outstanding

required information\n(the following information applies to the questions displayed below.)\non june 30, sharper corporations stockholders equity section of its balance sheet appears as follows before any stock\ndividend or split. sharper declares and immediately distributes a 50% stock dividend.\ncommon stock-$10 par value, 66,000 shares issued and\noutstanding $ 660,000\npaid-in capital in excess of par value, common stock 200,000\nretained earnings 700,000\ntotal stockholders equity $ 1,640,000\ncomplete this question by entering your answers in the tabs below.\nrequired 1 required 2\ncompute the number of shares outstanding after the distribution is made.\nnumber of common shares outstanding

Answer

Explanation:

Step1: Calculate the number of new shares

The number of new shares = Number of existing shares × Stock dividend percentage. The number of existing shares is 66,000 and the stock dividend percentage is 50% (or 0.5). So, the number of new shares = (66000\times0.5 = 33000)

Step2: Calculate the number of shares outstanding after the distribution

The number of shares outstanding after the distribution = Number of existing shares+ Number of new shares. Number of existing shares = 66,000 and number of new shares = 33,000. So, the number of shares outstanding after the distribution=(66000 + 33000=99000)

Answer:

99000