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Robinson's has 15000 shares of stock outstanding with a par value of $1.00 per share and a market price of $36 a share. The balance
Robinson's has 15000 shares of stock outstanding with a par value of $1.00 per share and a market price of $36 a share. The balance sheet shows $15.000 in the common stock account. $315000 in the capital in excess of par account, and $189,000 in the retained earnings account. The firm just announced a 3-for-2 stock split.
1. How many shares of stock will be outstanding after the split?
2. what will the market price per share be after the split? 3. what will the value of the common stock account be after the split?
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