On July 31, 2017, Archer, Inc. reported the following information in the equity section of their balance sheet: Assume that Archer 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.)

Question

On July 31, 2017, Archer, Inc. reported the following information in the equity section of their balance sheet:  Assume that Archer 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.)

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The Answer of On July 31, 2017, Archer, Inc. reported the following information in the equity section of their balance sheet:  Assume that Archer 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.)