Sumter Company manufactures televisions and they had a very successful year. They had 225,000 shares of common stock outstanding and they have decided to do 3-for-1 stock split. (5 points) Instructions:

a) What will be the number of shares outstanding after the split?

b) If the common stock had a par value $30 per share before the stock split, what would be the par value after the stock split?

c) If the common stock had a market price of $150 per share before the stock split, what would be the approximate market price after the stock split?