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Business, 02.03.2020 16:38, pulidoshorty
At the time that Kirby Company issued a 5-for-3 stock split, the company had 3,000 shares of $15 par value common stock outstanding. Stockholders' equity also contained $19,000 of additional paid-in capital and $35,000 of retained earnings. Immediately after the stock split: the number of outstanding shares of common stock would be $50,000. the amount of paid-in capital would be equal to $18,000. the balance in the retained earnings account would amount to $6,000. the balance in the common stock account would amount to $10,000.
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