- Live NBA Streaming. Maintenance Conn... Connect - Sign In The GOAT. Let's gra... ework Saved Help Save & Exit Su Check my wo Exercise 8-16 Determining the effects of stock splits on the accounting records LO 8-7 The market value of Yeates Corporation's common stock had become excessively high. The stock was currently selling for $270 per share. To reduce the market price of the common stock, Yeates declared a 3-for-1 stock split for the 310,000 outstanding shares of its $12 par value common stock. Required: b. Determine the number of common shares outstanding and the par value after the split. (Round par value answer to 2 decimal places.) Number of common shares outstanding Par value per share after the split