Robinsons has 45000 shares of stock outstanding with a par, Ask an Expert

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Robinson's has 45,000 shares of stock outstanding with a par value of $1.00 per share and a market price of $56 a share. The balance sheet shows $45,000 in the common stock account, $470,000 in the paid in surplus account, and $440,000 in the retained earnings account. The firm just announced a 5-for-3 stock split. How many shares of stock will be outstanding after the split?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91600746

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