Question
A company currently has 3,000,000 common shares outstanding and total shareholders' equity on its statement of financial position of $12,000,000. The current market price of
A company currently has 3,000,000 common shares outstanding and total shareholders' equity on its statement of financial position of $12,000,000. The current market price of the company's shares is $20 per share. The company does a three-for-one stock split. How many shares are outstanding after the split?
a)1,000,000 shares
b)9,000,000 shares
c)12,000,000 shares
d)20,000,000 shares
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Management Accounting Information for Decision-Making and Strategy Execution
Authors: Anthony A. Atkinson, Robert S. Kaplan, Ella Mae Matsumura, S. Mark Young
6th Edition
137024975, 978-0137024971
