Robinson's Has 15,000 Shares of Stock Outstanding with a Market

question 325

Multiple Choice

Robinson's has 15,000 shares of stock outstanding with a market price of $36 per share. The balance sheet shows $330,000 in the common stock 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

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