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On September 1, Cari Companys balance sheet indicates there are 600,000 shares issued and outstanding of $30 par value common shares in the Common Stock
On September 1, Cari Companys balance sheet indicates there are 600,000 shares issued and outstanding of $30 par value common shares in the Common Stock account and $4,500,000 in the Additional Paid-in Capital account. There are 2,000,000 shares authorized. On September 2, Cari splits its stock 2 for 1.
How many Cari shares of common stock are issued and outstanding immediately after the stock split?
A. | 4,000,000 | |
B. | 1,200,000 | |
C. | 1,400,000 | |
D. | 300,000 |
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