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Adrienne Art has 20,000 shares of stock outstanding with a par value of $1 per share and a market price of $64 per share. The
Adrienne Art has 20,000 shares of stock outstanding with a par value of $1 per share and a market price of $64 per share. The balance sheet shows $20,000 in the common stock account, $58,200 in the capital in excess of par value account, and $87,400 in the retained earnings account. The firm just announced an upcoming five-for-four stock split. What will be the value of the common stock account after the split?
Multiple Choice
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$20,480
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$20,000
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$12,000
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$16,000
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$25,000
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