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The Retail Outlet has 8,000 shares of stock outstanding with a par value of $1 per share. The current market value of the firm is
The Retail Outlet has 8,000 shares of stock outstanding with a par value of $1 per share. The current market value of the firm is $620,000. The balance sheet shows a capital in excess of par account value of $66,000 and retained earnings of $234,000. The company just announced a 3-for-1 stock split. What will be the retained earnings account balance after the split?
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