Short Answer
On September 20, 2017, Umatilla Company announced a 4 for 1 stock split. After the split, the company will have about 24.6 million shares outstanding. Shares traded for about $375 a share the day the split was announced.
a. What is a 4 for 1 stock split?
b. Why do companies like Umatilla Company split their stock?
c. How many shares were outstanding when the stock split was announced?
d. How will the equity section of the balance sheet be affected by this stock split?
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a. A 4 for 1 stock split means the compa...View Answer
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