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Preferred Products Started Business on March 1, 2012, and Issued

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Preferred Products started business on March 1, 2012, and issued 100,000 shares of $2 par value common stock at a market price of $50 per share. One year later, the share price had soared to $120. If Preferred Products does a 3-for-1 stock split, the balance sheet will show common stock with a par value of $0.67 per share.


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