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P 11-3 Following is the stockholders' equity section of Critter Contracting Inc. shown before and after a stock split on April 15, 2019. Before split
P 11-3 Following is the stockholders' equity section of Critter Contracting Inc. shown before and after a stock split on April 15, 2019. Before split Stockholders' Equity Common stock Authorized - 5,000 shares Issued and outstanding- 1,000 shares After split Stockholders' Equity Common stock Authorized ? shares Issued and outstanding - $100,000 ? shares $ On April 15, the board of directors authorized a 5 for 1 stock split. Required: 1. Complete the stockholders' equity section of the balance sheet after the split. 2. Record a memorandum indicating the new number of shares. 3. If the market value per stock was $40 before the split, what would be the approximate market value after the split? Why
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