16. Stock dividends and stock splits Happy Monkey Manufacturing currently has 15,000 shares of common stock outstanding. Its management belleves that its current stock price of $105 per share is too high. The company is planning to conduct stock splits in the ratio of 4 for 1 as described in the animation. If Happy Monkey Manufacturing declares a 4-for-1 stock split, the price of the company's stock after the split, assuming that the total value of the flrm's stock remains the same after the spilt? per share. Hackworth Hardware Company Is one of Happy Monkey's leading competitors. Hackworth Hardware Company's market Intelligence research team shares Happy Monkey's plans of announcing a stock split, Influencing the distribution pollcy makers. Consequently, executives at Hackworth decide to offer stock dividends to its shareholders. A stock dlvidend is another way of keeping the stock price from going too high. Hackworth currently has 2,300,000 shares of common stock outstanding. If the firm pays a 3% stock dlvidend, how many shares will the firm Issue to its existing shareholders? 72,450 shares 65,550 shares 69,000 shares 62,100 shares