Balance sheet as the par value of common stock

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Reference no: EM13184619

On Jan 1, 2013, Richard Sales isued 40,000 of common stock at a price of $22 per share. The stock has a par value of $1.00 per share. In mid- 2014 due to dramatic increases in profits, the stock reached a market value of $90 per share. The board of directors approved a 2- for -1 split. After the stock split, what will the balance sheet show as the par value of common stock?

Reference no: EM13184619

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Balance sheet as the par value of common stock : In mid- 2014 due to dramatic increases in profits, the stock reached a market value of $90 per share. The board of directors approved a 2- for -1 split. After the stock split, what will the balance sheet show as the par value of common stock?

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