Reference no: EM132404673
Question : Stock Dividends and Stock Splits
Whitacre Company's Stockholders' Equity section of the balance sheet on December 31, 2016, was as follows:
Common stock, $10 par value, 60,000 shares$600,000 issued and outstanding Additional paid-in capital480,000Retained earnings1,240,000 Total stockholders' equity$2,320,000
On May 1, 2017, Whitacre declared and issued a 15% stock dividend, when the stock was selling for $20 per share. Then on November 1, it declared and issued a 2-for-1 stock split.
Required:
1. How many shares of stock are outstanding at year-end?
shares
2. What is the par value per share of these shares?
$ per share
3. Develop the Stockholders' Equity category of Whitacre's balance sheet as of December 31, 2017.
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