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Robinsons has 36000 shares of stock outstanding with a par value of $100 per share and a market price of $52 a share The balance sheet shows $36000 in the common stock account $460000 in the

Robinson's has 36,000 shares of stock outstanding with a par value of $1.00 per share and a market price of $52 a share. The balance sheet shows $36,000 in the common stock account, $460,000 in the paid in surplus account, and $420,000 in the retained earnings account. The firm just announced a 3-for-1 stock split. How many shares of stock will be outstanding after the split?

12,000 shares 96,000 shares 108,000 shares 72,000 shares 107,500 shares

 

Aug 10 2020 View more View Less

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