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The stockholders’ equity accounts for Mystic Products appear below as of December 31: Retained earnings $104,000...

The stockholders’ equity accounts for Mystic Products appear below as of December 31: Retained earnings $104,000 Common stock, 40,000 shares authorized, 25,000 issued 12,000 Additional paid-in capital – common stock 150,000 All the shares of common stock were issued during an IPO on January 1. How much was each share of common stock initially sold for? What is the par value of each share of common stock? If Mystic Products declares a forward 3-for-1 stock split on January 1 of the following year, how many shares of common stock will be outstanding? If instead, Mystic Products declares and distributes a 30% stock dividend on January 1 of the following year, how many shares of common stock will be outstanding?

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Answer #1
1) initial selling price
(12000+150,000)/25000
6.48
2) par value
12000/25000
0.48
3) stock oustanding
25000*3
75000 shares
4) stock outstanding
25000*130%
32500 shares
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