Business, 14.04.2020 20:56 rachellynn02

The market value of Yeates Corporation’s common stock had become excessively high. The stock was currently selling for $240 per share. To reduce the market price of the common stock, Yeates declared a 3-for-1 stock split for the 100,000 outstanding shares of its $10 par value common stock. Required: b. Determine the number of common shares outstanding and the par value after the split.

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The market value of Yeates Corporation’s common stock had become excessively high. The stock was cur...

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