Assume that Milo Company's Stockholders' Equity category of the balance sheet appears as follows as of January 1,2012:
Common stock,$15 par,7,000 shares issued and outstanding $105,000
Additional paid-in capital-Common 70,000
Retained earnings 30,000
Total stockholders' equity $205,000
Assume that Milo's common stock is selling at $35 per share on that date.
REQUIRED:
What is the affect on the Stockholders' Equity section of Milo's balance sheet if the company issues a 3-for-1 stock split on January 2,2012?

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The Answer of Assume that Milo Company's Stockholders' Equity category of the balance sheet appears as follows as of January 1,2012:
Common stock,$15 par,7,000 shares issued and outstanding $105,000
Additional paid-in capital-Common 70,000
Retained earnings 30,000
Total stockholders' equity $205,000
Assume that Milo's common stock is selling at $35 per share on that date.
REQUIRED:
What is the affect on the Stockholders' Equity section of Milo's balance sheet if the company issues a 3-for-1 stock split on January 2,2012?

Assume That Milo Company's Stockholders' Equity Category of the Balance