Question: A company whose stock is selling for $60 has the following balance sheet: a) 1. Construct a new balance sheet showing the effects of a

A company whose stock is selling for $60 has the following

A company whose stock is selling for $60 has the following balance sheet: a) 1. Construct a new balance sheet showing the effects of a 3-for-1 stock split. 100,000 shares outstanding becomes 300,000 shares outstanding Par value becomes $4 per share 2. What is the new price of the stock

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