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Element Corporation reported the following equity section on its current balance sheet. The common stock is currently selling for $20.25 per share. Common Stock, $5 par, 337,000 shares authorized, $785,000 157,000 shares issued and outstanding Paid-In Capital in Excess of Par-Common Retained Earnings Total Stockholders' Equity 140,000 301,000 $1,226,000 After a 2-for-1 stock split, what is the number of issued shares? A. 280,000 B. 314,000 C. 297,000 D. 140,000

Element Corporation reported the following equity section on its current balance sheet. The common stock is currently selling for $20.25 per share. Common Stock, $5 par, 337,000 shares authorized, $785,000 157,000 shares issued and outstanding Paid-In Capital in Excess of Par-Common Retained Earnings Total Stockholders' Equity 140,000 301,000 $1,226,000 After a 2-for-1 stock split, what is the number of issued shares? A. 280,000 B. 314,000 C. 297,000 D. 140,000

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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Financial accounting

Element Corporation reported the following equity section on its current balance sheet. The common stock is currently selling for $20.25 per share. Common Stock, $5 par, 337,000 shares authorized, $785,000 157,000 shares issued and outstanding Paid-In Capital in Excess of Par-Common Retained Earnings Total Stockholders' Equity 140,000 301,000 $1,226,000 After a 2-for-1 stock split, what is the number of issued shares? A. 280,000 B. 314,000 C. 297,000 D. 140,000
Transcribed Image Text:Element Corporation reported the following equity section on its current balance sheet. The common stock is currently selling for $20.25 per share. Common Stock, $5 par, 337,000 shares authorized, $785,000 157,000 shares issued and outstanding Paid-In Capital in Excess of Par-Common Retained Earnings Total Stockholders' Equity 140,000 301,000 $1,226,000 After a 2-for-1 stock split, what is the number of issued shares? A. 280,000 B. 314,000 C. 297,000 D. 140,000
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