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 value of the common stock account be after the split?
A) $189,000
B) $220,000
C) $330,000
D) $495,000
E) $503,000
Correct Answer:
Verified
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