A corporation, which had 21,700 shares of common stock outstanding, declared a 5-for-1 stock split.

(a) What will be the number of shares outstanding after the split? fill in the blank 1 shares

(b) If the common stock had a market price of $205 per share before the stock split, what would be an approximate market price per share after the split? $fill in the blank 2 per share

(c) Is a journal entry required for a stock split?

YesNo