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6. Kevin M, an accountant at DM Inc., a mid-size paper company, spilled chili on the following document: DM Inc. Common Stock Report Authorized Shares: Issued Shares: Outstanding Shares: Treasury Shares: 5,000 4.000 1,000 His Boss Michael S. wants to know how many outstanding shares DM Inc. would have if they issued a 3:2 stock split.

6. Kevin M, an accountant at DM Inc., a mid-size paper company, spilled chili on the following document: DM Inc. Common Stock Report Authorized Shares: Issued Shares: Outstanding Shares: Treasury Shares: 5,000 4.000 1,000 His Boss Michael S. wants to know how many outstanding shares DM Inc. would have if they issued a 3:2 stock split.

FINANCIAL ACCOUNTING
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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6. Kevin M, an accountant at DM Inc., a mid-size paper company, spilled chili on the following document: DM Inc. Common Stock Report Authorized Shares: Issued Shares: Outstanding Shares: Treasury Shares: 5,000 4.000 1,000 His Boss Michael S. wants to know how many outstanding shares DM Inc. would have if they issued a 3:2 stock split. Please help Kevin figure out the number of shares outstanding DM Inc. has before he gets in trouble. a. 1,000 shares b. 2,000 shares c. 4,500 shares d. 3,000 shares
Transcribed Image Text:6. Kevin M, an accountant at DM Inc., a mid-size paper company, spilled chili on the following document: DM Inc. Common Stock Report Authorized Shares: Issued Shares: Outstanding Shares: Treasury Shares: 5,000 4.000 1,000 His Boss Michael S. wants to know how many outstanding shares DM Inc. would have if they issued a 3:2 stock split. Please help Kevin figure out the number of shares outstanding DM Inc. has before he gets in trouble. a. 1,000 shares b. 2,000 shares c. 4,500 shares d. 3,000 shares
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