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Sheffield Corporation splits its common stock 5 for 1, when the market value is $94...

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Accounting

Sheffield Corporation splits its common stock 5 for 1, when the market value is $94 per share. Prior to the split, Sheffield had 100000 shares of $10 par value common stock issued and outstanding. After the split, the par value of the stock
remains the same.
is reduced to $50 per share.
is reduced to $2 per share.
is reduced to $5 per share.
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