Effect of stock split Willeys Grill & Restaurant Corporation wholesales ovens and ranges to restaurants...
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Accounting
Effect of stock split
Willeys Grill & Restaurant Corporation wholesales ovens and ranges to restaurants throughout the Southwest. Willeys Grill & Restaurant, which had 345,000 shares of common stock outstanding, declared a 3-for-1 stock split.
a. What will be the number of shares outstanding after the split?
b. If the common stock had a market price of $360 per share before the stock split, what would be an approximate market price per share after the split?
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