Red’s Electronics has a balance sheet with equity account values of: common stock ($1 par) of $70,500; capital surplus of $141,600; and retained earnings of $208,300. How many shares will be outstanding if the firm declares a 2-for-9 reverse stock split?
A: 5,833 shares
B: 15,667 shares
C: 18,000 shares
D: 305,750 shares
E: 317,250 shares