13-11 Effect of Stock Split

Copper Grill Restaurant Corporation wholesales ovens and ranges to restaurants throughout the Southwest. Copper Grill Restaurant Corporation, which had 72,000 shares of common stock outstanding, declared a 3-for-1 stock split.

a. What will be the number of shares outstanding after the split? ___________ shares

b. If the common stock had a market price of $180 per share before the stock split, what would be an approximate market price per share after the split? $_________ per share