10. The stock of JFINEX Corporation iscurrently selling for 60 per share. Itcompleted a 1-for-4 reverse stock split twodays earlier. Last year, JFINEX had a3-for-1 stock split. If the regular andreverse splits had not happened, whatwould the price of the stock be?A) 5 per shareB) 45 per shareC) 80 per shareD) 720 per share

Stock price two days earlier = Currently selling price x reverse split ratio = 60 x 1/4 = 15

Answered: 10. The stock of JFINEX Corporation is…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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