(Answered) Mia restaurant corporation wholesales ovens and ranges to

Accounting

Mia Restaurant Corporation wholesales ovens and ranges to restaurants throughout the Southwest. Mia Restaurant Corporation, which had 40,000 shares of common stock outstanding, declared a 4-for-1 stock split (3 additional shares for each share issued).

(a) What will be the number of shares outstanding after the split?

(b) If the common stock had a market price of $300 per share before the stock split, what would be an approximate market price per share after the split?

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