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Willey’s Grill & Restaurant Corporation wholesales ovens and ranges to restaurants throughout the Southwest. Willey’s Grill...

Willey’s Grill & Restaurant Corporation wholesales ovens and ranges to restaurants throughout the Southwest. Willey’s Grill & Restaurant, which had 57,000 shares of common stock outstanding, declared a 4-for-1 stock split.

a. What will be the number of shares outstanding after the split?
shares

b. If the common stock had a market price of $228 per share before the stock split, what would be an approximate market price per share after the split?
$ per share

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Answer #1

solution :

given data

Willey’s Grill & Restaurant Corporation wholesales ovens and ranges to restaurants throughout the Southwest

also given

Willey’s Grill & Restaurant, which had 57,000 shares of common stock outstanding, declared a 4-for-1 stock split.

a.finding number of shares outstanding after the spilt :

Shares outstanding after the split = 57000 shares X 4

= 228000 shares

b.finding market price per share :

Market price per share after the split = (57000 shares X $228) / 228000 shares

= $57

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