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gtnhenbr [62]
3 years ago
9

A person owned 300 shares of MNO common stock, which cost $23,400. MNO then had a 3-for-1 stock split. After the split, the pers

on sold 100 shares for $5,600. How much gain (or loss) resulted from the sale?
Mathematics
1 answer:
lutik1710 [3]3 years ago
8 0
A 3-for-1 stock split means that the number of shares is multiplied by 3, 
and becomes 900 shares. 
Cost of one share before split: \frac{23,400}{300}=\$78
Cost of one share after split: \frac{23,400}{900}=\$26
Cost of 100 shares before split:78\times100=7800
Cost of 100 shares after split:26\times100=2600
The above sale result in loss of: 7800-2600=\$5200
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