Before a Four-For-One Stock Split, the Shares Outstanding Were 7,000

question 86

Multiple Choice

Before a four-for-one stock split, the shares outstanding were 7,000 shares at $12 par. After the split, what was the par value per share and number of shares? (Round your answer to the nearest cent.)

• A) 28,000 shares at $12 per share
• B) 28,000 shares at $3.00 per share
• C) 28,000 shares at $6.00 per share
• D) 7,000 shares at $48 per share