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Robinson's has 44,000 shares of stock outstanding with a par value of $1 per share and a market price of $48 a share. The balance
Robinson's has 44,000 shares of stock outstanding with a par value of $1 per share and a market price of $48 a share. The balance sheet shows $44,000 in the common stock account, $505,000 in the paid-in surplus account, and $510,000 in the retained earnings account. The firm just announced a 5 -for2 stock split. How many shares of stock will be outstanding after the split? Multiple Choice 92,400 shares 17,600 shares 176.000 shares 110,000 shares 109,500 shares
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