Issuing Stock Ergonomics Supply Inc., a wholesaler of office products, was organized on July 1 of the current year, with an authorization of 50,000 shares of 4% preferred stock, $65 par and 500,000 shares of $10 par common stock. The following selected transactions were completed during the first year of operations: Journalize the transactions. July 1. Issued 140,000 shares of common stock at par for cash. If an amount box does not require an entry, leave it blank. July 1 88 July 1 Issued 650 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation. If an amount box does not require an entry, leave it blank. July 1 38 Aug. 7. Issued 19,500 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $35,000, $194,000, and $44,000, respectively. If an amount box does not require an entry, leave it blank. Aug. 7 July 1 July 1 Issued 650 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation. If an amc box does not require an entry, leave it blank. July 1 38 Aug. 7. Issued 19,500 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $35,000, $194,000, and $44,000, respectively. If an amount box does not require an entry, leave it blank. Aug. 7 Sept. 20. Issued 25,000 shares of preferred stock at $78 for cash. If an amount box does not require an entry, leave it blank. Sept. 20 Entries for Cash Dividends The declaration, record, and payment dates in connection with a cash dividend of $78,600 on a corporation's common stock are January 12, March 13, and April 12. If no entry is required, select "No Entry Required" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank. Jan. 12 Mar. 13 Apr. 12 Effect of Stock Split Yeoman Grill Restaurant Corporation wholesales ovens and ranges to restaurants throughout the Southwest. Yeoman Grill Restaurant Corporation, which had 57,000 shares of common stock outstanding, declared a 3-for-1 stock split. a. What will be the number of shares outstanding after the split? shares b. If the common stock had a market price of $168 per share before the stock split, what would be an approximate market price per share after the split? per share