(Solution) - Solartech Inc had the following shareholders equity at January 31 -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

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Solartech Inc. had the following shareholders' equity at January 31 (dollars in millions):
Common shares, 500 million shares authorized,
440 million shares issued....................................................................... $ 318
Contributed surplus.................................................................................... 44
Retained earnings.................................................................................. 2,393
Total shareholders' equity................................................................... $2,755
Assume that on March 7, Solartech split its common shares 2 for 1. Prepare the shareholders' equity section of the balance sheet immediately after the split.