Question - Bennett Corporation reported the following Stockholder's Equity items on December 31, 2XXX:
Preferred stock, 5%, cumulative $100 par, 7,000 shares issued - $100,000
Paid-in capital excess of par-preferred - $53,200
Common stock, $50 par, 10,000 shares authorized, 5,000 shares issued - $250,000
Paid-in excess of ar-common - $300,000
Retained earnings - $455,300
How many shares of common stock would be outstanding if Bennett Corporation declares a 3-for-1 stock split?