The owners' equity accounts for Okanagan International are shown here.
Common stock ($1 par value) $20,000
Capital surplus $285,000
Retained earnings $638,120
Total owners' equity $943,120
If Okanagan declares a one-for-five reverse stock split, how many shares are outstanding now?
- A. 80,000
- B. 2,000
- C. 4,000
- D. 20,000