Jean's Warehouse has 22,000 shares of stock outstanding with a current market value of $971,520. The company has retained earnings of $218,740 and paid in surplus of $384,200. The company is planning a stock split of four-for-three. What will be the retained earnings account value after the split?
A) $164,055
B) $218,740
C) $153,600
D) $193,653
E) $245,500
Correct Answer:
Verified
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