Willey’s Grill & Restaurant Corporation wholesales ovens and ranges to restaurants throughout the Southwest. Willey’s Grill & Restaurant, which had 30,000 shares of common stock outstanding, declared a 3-for-1 stock split. a. What will be the number of shares outstanding after the split? shares b. If the common stock had a market price of $228 per share before the stock split, what would be an approximate market price per share after the split? $ per share
Willey’s Grill & Restaurant Corporation wholesales ovens and ranges to restaurants throughout the Southwest. Willey’s Grill & Restaurant, which had 30,000 shares of common stock outstanding, declared a 3-for-1 stock split. a. What will be the number of shares outstanding after the split? shares b. If the common stock had a market price of $228 per share before the stock split, what would be an approximate market price per share after the split? $ per share
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Effect of Stock Split
Willey’s Grill & Restaurant Corporation wholesales ovens and ranges to restaurants throughout the Southwest. Willey’s Grill & Restaurant, which had 30,000 shares of common stock outstanding, declared a 3-for-1 stock split.
a. What will be the number of shares outstanding after the split?
shares
b. If the common stock had a market price of $228 per share before the stock split, what would be an approximate market price per share after the split?
$ per share
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