The Retail Outlet has 17,500 shares of stock outstanding with a par value of $1 per share.The current book value of the firm is $387,800 and the balance in the capital in excess of par value account is $146,300.The company just announced a four-for-three stock split.What will be the common stock account balance after the split?
A) $11,000
B) $13,125
C) $23,333
D) $14,500
E) $17,500
Correct Answer:
Verified
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