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IMC Qu. Po At the time that Kirby Company... At the time that Kirby Company issued a 5-for-3 stock split, the company had 3,000 shares
IMC Qu. Po At the time that Kirby Company... At the time that Kirby Company issued a 5-for-3 stock split, the company had 3,000 shares of $15 par value common stock outstanding. Stockholders' equity also included $19,000 of paid in capital in excess of par value-common and $35,000 of retained earnings. Which of the following statements regarding the impact of the stock split is true? Multiple Choice 0 The number of outstanding shares of common stock will be 225,000. The amount of paid in capital in excess of par-common will become $19.000. 0 The balance in the retained earnings account will become $7.000. 0 The number of outstanding shares of common stock will be 225,000. The amount of paid-in capital in excess of par-common will become $19.000. To ooo The balance in the retained earnings account will become $7.000 The balance of the common stock account will be $45.000
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