Exercise $11-16$A $($Algo$)$ Determining the effects of stock splits on the accounting records LO $11-7$

$4\mathrm{.}28$ points

$8.$

Hint

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Print

Print

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References

The market value of Yeates Corporation's common stock had become excessively high. The stock was currently selling for $$400$ per share. To reduce the market price of the common stock, Yeates declared a $4-$for$-1$ stock split for the $360,000$ outstanding shares of its $$8$ par value common stock.

Required

b$.$ Determine the number of common shares outstanding and the par value after the split. $($Round par value answer to $2$ decimal places.$)$

$\backslash$table$[[$Number of common shares outstanding$],[$Par value per share after the split$]]$

Par value per share after the split