Wesley Crusher, chief accountant of Blue Sky Cruise Lines, is trying to figure out the effect of a 31 stock split. The equity section of the balance sheet follows:

Common Stock (3 Million shares, $1 Par) 3000 Capital in Excess of Par 7,000 Retained Earnings 10,000 Total Common Equity 20,000

The current market price of the companys stock is $33 per share. If Blue Sky Cruise Lines decided to have a 31 stock split, how would the equity section change after the split? (Show Work)

What would be the stocks market price? (Show Work)