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Martin's Farms Inc. recently reported the following shareholders' equity (Click the icon to view the shareholders' equity.) Suppose Martin's Farms split its common shares 2
Martin's Farms Inc. recently reported the following shareholders' equity (Click the icon to view the shareholders' equity.) Suppose Martin's Farms split its common shares 2 for 1 in order to decrease the market price of its shares. The company's shares were trading at $90.00 immediately before the split. 1. Prepare the shareholders' equity section of Martin's Farms Inc.'s balance sheet after the stock split on June 30, 2020. 2. Which account balances changed after the stock split? Which account balances were unchanged? 1. Prepare the shareholders' equity section of Martin's Farms Inc.'s balance sheet after the stock split on June 30, 2020. (Enter amounts to be subtracted with a minus sign or parentheses.) Shareholders' equity Shareholders' equity Common shares, 475,000 shares authorized, 100,000 shares issued and outstanding Total shareholders' equity $ 122,500 217,500 Retained earnings $ 340,000 Total shareholders' equity Print Done
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