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At the time that Kirby Company issued a 5-for-2 stock split, the company had 1,000 shares of $10 par value common stock outstanding. Stockholders' equity

At the time that Kirby Company issued a 5-for-2 stock split, the company had 1,000 shares of $10 par value common stock outstanding. Stockholders' equity also contained $18,000 of additional paid in capital and $30,000 of retained earnings. Immediately after the stock split, the number of outstanding shares of common stock would be $50,000. the amount of paid-in capital would be equal to $18,000. the balance in the retained earnings account would amount to $6,000. the balance in the common stock account would amount to $10,000.

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