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Question & Answer: Retained Earnings is $2,400,000. The company issues a 2-for-1 stock split. The market price of the…..

1.A company had 1,600,000 shares of $10 par value common stock outstanding. The amount of additional paid-in capital is $8,000,000, and Retained Earnings is $2,400,000. The company issues a 2-for-1 stock split. The market price of the stock is $14. What is the balance in the Common Stock account after this issuance? O $32,000,0o0 O $24,000,000 O $38,400,000 O $16,000,0002.3.

A company had 1,600,000 shares of $10 par value common stock outstanding. The amount of additional paid-in capital is $8,000,000, and Retained Earnings is $2,400,000. The company issues a 2-for-1 stock split. The market price of the stock is $14. What is the balance in the Common Stock account after this issuance? O $32,000,0o0 O $24,000,000 O $38,400,000 O $16,000,000

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