1. Effect of Stock Split

   Willeys Grill & Restaurant Corporation wholesales ovens and ranges to restaurants throughout the Southwest. Willeys Grill & Restaurant, which had 51,000 shares of common stock outstanding, declared a 4-for-1 stock split.

   a. What will be the number of shares outstanding after the split? fill in the blank 1 shares

   b. If the common stock had a market price of $132 per share before the stock split, what would be an approximate market price per share after the split? $fill in the blank 2 per share