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Ignoring parts 1&2, On January 1, 2022, Dunder Mifflin Corp, a publicly traded company, had these shareholders' equity accounts: Commonshares(Unlimitednumberofsharesauthorized,60,000issued)ContributedsurplusRetainedearnings$600,000$30,000$1,200,000 On February 1 the company
Ignoring parts 1&2, On January 1, 2022, Dunder Mifflin Corp, a publicly traded company, had these shareholders' equity accounts: Commonshares(Unlimitednumberofsharesauthorized,60,000issued)ContributedsurplusRetainedearnings$600,000$30,000$1,200,000 On February 1 the company declared a 3 for 1 stock split to common shareholders. The stock's market price was $100.00. February 15th is the date of record and March 1st is the date of payment. On February 15th the stock's market price was $100.00 and on March 1st the stock's market price was $25.00. Calculate the balance in number of common shares, dollars of common shares, dollars of contributed surplus and dollars of retained earnings after the above transaction at March 1'st 2022
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