Outstanding Shares Pearce & Company has 4 million shares of $4 par value common stock outstanding. The company believes that its current market price of $150 per share is too high and decides to execute a 4-for-1 forward stock split to lower the price. How many shares (in millions) will be outstanding following the stock split, and what will be the new par value per share? # of shares Par value million per share

Outstanding Shares Pearce & Company has 4 million shares of $4 par value common stock outstanding. The company believes that its current market price of $150 per share is too high and decides to execute a 4-for-1 forward stock split to lower the price. How many shares (in millions) will be outstanding following the stock split, and what will be the new par value per share? # of shares Par value million per share

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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# of shares		Par value
	million		per share

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