Manitoba, Inc. declared a 3-for-1 forward stock split during the year when there were 60,000...
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Accounting
Manitoba, Inc. declared a 3-for-1 forward stock split during the year when there were 60,000 shares of $0.45 par value of common stock outstanding and the stock price was $30 per share. What amount of stock was outstanding immediately after the split?
Choose one:
A. 180,000 shares of $0.45 par value common stock
B. 60,000 shares of $0.15 par value common stock
C. 20,000 shares of $1.35 par value common stock
D. 180,000 shares of $0.15 par value common stock
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