The market value of Yeates Corporation's common stock had become excessively high. The stock was currently selling for $280 per share. To reduce the market price of the common stock, Yeates declared a 4-for-1 stock split for the 240,000 outstanding shares of its $12 par value common stock. Required b. Determine the number of common shares outstanding and the par value after the split. (Round par value answer to 2 decimal places.) Number of common shares outstanding Par value per share after the split

The market value of Yeates Corporation's common stock had become excessively high. The stock was currently selling for $280 per share. To reduce the market price of the common stock, Yeates declared a 4-for-1 stock split for the 240,000 outstanding shares of its $12 par value common stock. Required b. Determine the number of common shares outstanding and the par value after the split. (Round par value answer to 2 decimal places.) Number of common shares outstanding Par value per share after the split

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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