Question: Kaneb Services Inc. has just declared a 3 for 2 stock split. The company's pre - split common stockholders' equity was as follows: Common stock

Kaneb Services Inc. has just declared a 3 for 2 stock split. The company's pre-split common stockholders' equity was as follows:
Common stock ($1.25 par, 2,000,000 shares)
$ 2,500,000
Contributed capital in excess of par
$ 17,500,000
Retained earnings
182,100,000
Total common stockholders' equity
$202,100,000
If the pre-split price of common stock was $42, what will be the amount of retained earnings after the split?
Kaneb Services Inc. has just declared a 3 for 2 stock split. The company's pre-split common stockholders' equity was as follows:
Common stock ($1.25 par, 2,000,000 shares)
$ 2,500,000
Contributed capital in excess of par
$ 17,500,000
Retained earnings
182,100,000
Total common stockholders' equity
$202,100,000
If the pre-split price of common stock was $42, what will be the amount of retained earnings after the split?

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