The Retail Outlet has 6,000 shares of stock outstanding with a book value of $1.00 per share. The current market value of the firm is $420,000. The balance sheet shows retained earnings of $234,000. The company just announced a 2-for-1 stock split. What will the retained earnings account balance be after the split?
A) $117,000
B) $234,000
C) $351,000
D) $410,000
E) $468,000
Correct Answer:
Verified
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