A corporation, which had 39,400 shares of common stock outstanding, declared a 3-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 $57 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?