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, 76,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 760,000 330,000 725,000 $1,815,000 Exercise 11-6 Large stock dividend LO P2 Required: (1) Prepare the updated stockholders' equity section after the distribution is made. (2) Compute the number of shares outstanding after the distribution is made. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 1 Required 2 Prepare the updated stockholders' equity section after the distribution is made. SHARPER CORPORATION Stockholders' Equity Section of the Balance Sheet June 30 Common stock$10 par value $ 760,000 > Paid-in capital in excess of par value, common stock 330,000 Retained earnings 725,000 Total stockholders' equity $ 1,815,000 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the number of shares outstanding after the distribution is made. Number of common shares outstanding 228,000