Gino's Corporation Had 30,000 Shares of $16 Par Value Common

question 27

Multiple Choice

Gino's Corporation had 30,000 shares of $16 par value common stock outstanding with a market value of $30 per share.Gino announced a four-for-one stock split.After the split,the par value of the stock:

• A)remained the same as before the split.
• B)was reduced to $4.00 per share.
• C)was reduced by $4.00 per share.
• D)was reduced to $8.00 per share.

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