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1. Stark Industries' stock currently sells for $150 a share. You own 200 shares of the stock. The company is contemplating a 2-for-1 stock split. Which of the following best describes what your position will be after such a split takes place?

A. You will have 400 shares of stock, and the stock will trade at or near $75 a share.

B. You will have 200 shares of stock, and the stock will trade at or near $60 a share.

C. You will have 100 shares of stock, and the stock will trade at or near $150 a share.

D. You will have 100 shares of stock, and the stock will trade at or near $60 a share.

2. Heller Company offers an unconditional return policy to its customers. During the current period, the company records total sales of $850,000, with a cost of merchandise to Heller of $340,000. Based on past experience, Heller Company expects 4% of sales to be returned.

How much gross profit will Heller Company recognize for the current period?

A. $816,000

B. $510,000

C. $850,000

D. $360,400

E. $489,600

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92852987

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