A corporation, which had 31,100 shares of common stock outstanding, declared a 5-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 $120 per share before the stock split, what would be an approximate market price per share after the split? $ per share

c. Journalize the entry to record the stock split. If no entry is required, type "No Entry" and leave the amount boxes blank.