Question
At the time that Kirby Company issued a 3-for-2 stock split, the company had 2,400 shares of $15 par value common stock outstanding. Stockholders' equity
At the time that Kirby Company issued a 3-for-2 stock split, the company had 2,400 shares of $15 par value common stock outstanding. Stockholders' equity also contained $17,000 of additional paid-in capital and $18,000 of retained earnings. Immediately after the stock split the:
number of outstanding shares of common stock would be 108,000.
balance in the retained earnings account would amount to $6,000.
amount of paid-in capital in excess of par-common would be equal to $25,500.
balance in the common stock account would amount to $36,000.
Please show work.
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