Question
PLEASE HELP WITH THIS PROBLEM FROM MY ACCOUNTING CLASSS: Effect of Stock Split Gino's Restaurant Corporation wholesales ovens and ranges to restaurants throughout the Midwest.
PLEASE HELP WITH THIS PROBLEM FROM MY ACCOUNTING CLASSS:
Effect of Stock Split
Gino's Restaurant Corporation wholesales ovens and ranges to restaurants throughout the Midwest. Gino's Restaurant Corporation, which had 54,000 shares of common stock outstanding, declared a 3-for-1 stock split (2 additional shares for each share issued).
a. What will be the number of shares outstanding after the split? ______ shares
b. If the common stock had a market price of $132 per share before the stock split, what would be an approximate market price per share after the split? $______ per share
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started