Question: Down River Express has 5 , 0 0 0 shares of stock outstanding with a par value of $ 1 . 0 0 per share.

Down River Express has 5,000 shares of stock outstanding with a par value of $1.00 per share. The current market value of the firm is $390,000. The balance sheet shows a paid in surplus account value of $122,000 and retained earnings of $216,000. The company just announced a 2-for-1 stock split. What will the paid in surplus account balance be after the split?

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