Multiple Choice
Robinson's has 15,000 shares of stock outstanding with a par value of $1.00 per share and a market price of $36 a share. The balance sheet shows $15,000 in the common stock account,$315,000 in the capital in excess of par account,and $189,000 in the retained earnings account. The firm just announced a 3-for-2 stock split. What will the market price per share be after the split?
A) $18
B) $24
C) $42
D) $48
E) $54
Correct Answer:
Verified
Correct Answer:
Verified
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