Blue sky, SAOG has issued and paid-up capital of OMR 7 million OMR 1 par value common stock. The current market price of the each share is OMR 8. The company board decided to have a 2-for-1 stock split. Determine the effect of stock split and show the Number of shares outstanding after Stock split.

a.

14,000,000 shares

b.

None of the options

c.

7,000,000 shares

d.

3,500,000 shares