One June 30,2013 the Sharper Corporation's common stock is priced at $62 per share before any stock dividend or split, and the stockholders' equity section of its balance sheet appears as follows:
Common Stock- $ par value, 120,000 shares authorized, 50,000 shares issued and oustandind.........$500,000
PIC in excess of par value, common stock.........................................................................................................200,000
Retained earnings...................................................................................................................................................660,000
Total Stockholders' equity..................................................................................................................................$1,360,000