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On July 31, 2013, the Archer Company Reported the Following

Question 67

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On July 31, 2013, the Archer Company reported the following information in the equity section of their balance sheet:
 Stockholders’ equity  Common stock, $1.00 par, 500,000 shares authorized, 20,000 shares  issued $20,000 Paid-in capital in excess of par 1,180,000 Retained earnings 3,200,000 Total stockholder’s equity $4,400,000\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 } \\\text { issued }\end{array} & \$ 20,000 \\\hline \text { Paid-in capital in excess of par } & 1,180,000 \\\hline \text { Retained earnings } & 3,200,000 \\\hline \text { Total stockholder's equity } & \$ 4,400,000 \\\hline\end{array}
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Assume that Archer carries out a 4-for-1 stock split. Please prepare a similar equity section showing the effects of the stock split. (Please round all numbers to the nearest cent.)
 Stockholders’ equity \begin{array} { | l | l | l | } \hline \text { Stockholders' equity }\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad&\quad\quad\quad\quad &\quad\quad\quad \\\hline & & \\\hline & & \\\hline\\\hline & & \\\hline\\\hline\end{array}

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\[\begin{array} { | l | r | }
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