On July 31,2018,Baldwin,Inc Assume That Baldwin Splits Its Common Stock 3-For-1

Essay

On July 31,2018,Baldwin,Inc.reported the following information in the equity section of their balance sheet:
$$\begin{array} { | l | r | } \hline \text { Stockholders' Equity: } & \\\hline \begin{array} { l } \text { Common Stock, } \$ 1.00 \text { par, } 500,000 \text { shares authorized,20,000 shares issued } \\\text { and outstanding }\end{array} & \$ 20,000 \\\hline \text { Paid-In Capital in Excess of Par-Common } & 3,180,000 \\\hline \text { Retained Earnings } & 3,200,000\\\hline\text { Total Stockholder's Equity }&\$ 4,400,000 \\\hline \end{array}$$ Assume that Baldwin splits its common stock 3-for-1.Prepare an equity section of the balance sheet that shows the effects of the stock split.(Please round all numbers to the nearest cent.)