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The Ajax Company issued 600 common shares to the public for $30 per share when it was formed. These shares have a par value per
The Ajax Company issued 600 common shares to the public for $30 per share when it was formed. These shares have a par value per share of $8. The firm's income in its first year was $10,000. Later, the firm issued a 15% stock dividend when the shares had a fair market value each of $40. Then, the firm issued a 30% stock dividend when the fair market value per share was $45. Based only on the events described here, what would be the correct number of common shares outstanding after the 30% stock dividend?
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