Redrsquos electronics has a balance sheet with equity, Ask an Expert

Finance

Red’s Electronics has a balance sheet with equity account values of: common stock ($1 par) of $70,500; capital surplus of $141,600; and retained earnings of $208,300. How many shares will be outstanding if the firm declares a 2-for-9 reverse stock split?

A: 5,833 shares

B: 15,667 shares

C: 18,000 shares

D: 305,750 shares

E: 317,250 shares

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92166317

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