Question: Problem: Module 3 Textbook Problem 19 Learning Objective: 3-15 Show how stock dividends and stock splits affect financial statements The market value of Yeates Corporation's

Problem: Module 3 Textbook Problem 19 Learning Objective: 3-15 Show how stock dividends and stock splits affect financial statements The market value of Yeates Corporation's common stock had become excessively high. The stock was currently selling for $330 per share. To reduce the market price of the common stock, Yeates declared a 3-for-1 stock split for the 290,000 outstanding shares of its $10 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.)

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