Jensen's has 22,000 shares of stock outstanding with a par value of $1 per share and a market price of $20.60 a share.The balance sheet shows $22,000 in the common stock account,$325,000 in the capital in excess of par value account,and $189,000 in the retained earnings account.The firm just announced a 5-for-2 stock split.What will be the balance in the capital in excess of par value account after the split?
A) $126,000
B) $210,000
C) $283,500
D) $325,000
E) $472,500
Correct Answer:
Verified
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