Before a 5-for-3 stock split, the shares outstanding were 45,000 shares at $15 par. After the split, what was the par value and number of shares? (Round any intermediary calculations to two decimal places, and your final answer to the nearest whole number.)

Question

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Before the split, the total par value was 45,000 shares x $15/share = $675,000. 
After the split, the total par value is still the same, but is divided among more shares. 
The new par value is $675,000 / 5 = $135,000, divided among 45,000 x 5 = 225,000 shares. 
So, the post-split par value is $135,000 / 225,000 = $0.60/share, which is equivalent to the pre-split par value of $15/share. 
Therefore, the answer is 75,150 shares (225,000/3) at $9/share after the split.

Before a 5-For-3 Stock Split, the Shares Outstanding Were 45,000