Demonstrate the number of common shares outstanding

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The market value of Yeates Corporation's common stock had become excessively high. The stock was currently selling for $360 per share. To reduce the market price of the common stock, Yeates declared a 3-for-1 stock split for the 400,000 outstanding shares of its $10 par value common stock.

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Question 1: Determine the number of common shares outstanding and the par value after the split.

Reference no: EM132604449

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