AJ's has 12,400 shares of stock outstanding with a par value of $1 per share and a market price of $31 a share. The balance sheet shows $12,400 in the common stock account, $67,200 in the capital in excess of par value account, and $59,300 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?

AJ's has 12,400 shares of stock outstanding with a par value of $1 per share and a market price of $31 a share. The balance sheet shows $12,400 in the common stock account, $67,200 in the capital in excess of par value account, and $59,300 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 $9.920 $12,500 $15,000 $12,400