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Pele companys balance sheet consists of common stock

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Reference no: EM131803326

On October 31, the stockholders' equity section of Pele Company's balance sheet consists of common stock $358,400 and retained earnings $403,300.

Pele is considering the following two courses of action:

(1) Declaring a 5% stock dividend on the 89,600 $4 par value shares outstanding

(2) Effecting a 2-for-1 stock split that will reduce par value to $2 per share.

The current market price is $13 per share.

Reference no: EM131803326

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