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On August 15, Douglas Corp. had 40,000 shares of $6 par value common stock outstanding before it declared a 2-for-1 split. At that time, its
On August 15, Douglas Corp. had 40,000 shares of $6 par value common stock outstanding before it declared a 2-for-1 split. At that time, its stock was selling for $80 per share.
On August 15, Douglas Corp. had 40,000 shares of $6 par value common stock outstanding before it declared a 2-for-1 stock split. At that time, its stock was selling for $80 per share. Required: In the chart below, indicate the par value per share and the number of shares outstanding immediately after the split. Do not include commas or decimals in your responses Step by Step Solution
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