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Melvin Corporation reported Common Stock, $5 par value, 100,000 shares authorized and 100,000 shares issued and outstanding. The common stock is currently selling for
Melvin Corporation reported Common Stock, $5 par value, 100,000 shares authorized and 100,000 shares issued and outstanding. The common stock is currently selling for $12.00 per share. What would be the amount in the Common Stock account after a 3:1 stock split? $200,000 $1,200,000 $400,000 $960,000 $500,000 $250,000
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