Griffin Corp had the following stockholders equity at March 31 (dollars in millions, except par value per share) Stockholders Equity Common stock , $0 30 par, 500 million shares authorized, 450 million shares issued $ 135 Additional paid in capital 315 Retained earnings 2,393 Other equity (146) Tot...

Stockholders equity Millions Common stock 030 p ...

Griffin Corp. had the following stockholders equity at March 31 (dollars in millions, except par value per

Question:

Griffin Corp. had the following stockholders equity at March 31 (dollars in millions, except per share):
Stockholders Equity
, $0.30 par, 500 million shares
authorized, 450 million shares issued................ $ 135
Additional paid-in capital.................................. 315
Retained earnings.............................................. 2,393
Other equity...................................................... (146)
Total stockholders equity.................................. $2,697
On May 3, Griffin split its $0.30 par common stock 3-for-1.

Requirement
1. Prepare the stockholders equity section of the immediately after the split.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...