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Effect of stock split Willeys Grill & Restaurant Corporation wholesales ovens and ranges to restaurants...

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Accounting

Effect of stock split

Willeys Grill & Restaurant Corporation wholesales ovens and ranges to restaurants throughout the Southwest. Willeys Grill & Restaurant, which had 345,000 shares of common stock outstanding, declared a 3-for-1 stock split.

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

b. If the common stock had a market price of $360 per share before the stock split, what would be an approximate market price per share after the split?

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