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Pettygrove Company had 1,800,000 shares of $10 par value common stock outstanding. The amount of additional paid-in capital is $9,000,000, and Retained Earnings is $2,700,000.
Pettygrove Company had 1,800,000 shares of $10 par value common stock outstanding. The amount of additional paid-in capital is $9,000,000, and Retained Earnings is $2,700,000. The company issues a 2-for-1 stock split. The market price of the stock is $12. What is the balance in the Common Stock account after this issuance? Multiple Choice $36,000,000 $18,000,000 O $39,600,000 O $27.000.000
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