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Bay Inc. had 50,000 outstanding shares of non-par value common stock, with stated value of $12 on December 31, 2020. The Board of Directors voted

Bay Inc. had 50,000 outstanding shares of non-par value common stock, with stated value of $12 on December 31, 2020. The Board of Directors voted to split the stock on a 3 for 1 basis, issuing new shares to existing permanent stockholders.

A. What will be the new stock price?

B. Give any general journal entry required on December 31st.

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