Essay
Marcos Company, which had 35,000 shares of common stock outstanding, declared a 4-for-1 stock split.Required
(a)What will be the number of shares outstanding after the split?
(b)If the common stock had a market price of $280 per share before the stock split, what would be an approximate market price per share after the split?
Correct Answer:
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(a) 140,000 shares
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