Robinsons has 15000 shares of stock outstanding with a par, Financial Management

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Robinsons has 15000 shares of stock outstanding with a par

Robinson's has 15,000 shares of stock outstanding with a par value of $1.00 per share and a market price of $36 a share. The balance sheet shows $15,000 in the common stock account, $315,000 in the capital in excess of par account, and $189,000 in the retained earnings account. The firm just announced a 3-for-2 stock split. What will the market price per share be after the split?

A. $18

B. $24

C. $42

D. $48

E. $54

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Financial Management: Robinsons has 15000 shares of stock outstanding with a par

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Financial Management: Robinsons has 15000 shares of stock outstanding with a par

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