Red's Electronics has a balance sheet with equity account values of: common stock ($1 par) of $70,500; capital surplus of $141,600; and retained earnings of $208,300.How many shares will be outstanding if the firm declares a 2-for-9 reverse stock split?
A)5,833 shares
B)15,667 shares
C)18,000 shares
D)305,750 shares
E)317,250 shares

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The Answer of Red's Electronics has a balance sheet with equity account values of: common stock ($1 par) of $70,500; capital surplus of $141,600; and retained earnings of $208,300.How many shares will be outstanding if the firm declares a 2-for-9 reverse stock split?
A)5,833 shares
B)15,667 shares
C)18,000 shares
D)305,750 shares
E)317,250 shares

Red's Electronics Has a Balance Sheet with Equity Account Values