Aperson owned 300 shares of mno common stock, which cost $23,400. mno then had a 3-for-1 stock split. after the split, the person sold 100 shares for $5,600. how much gain (or loss) resulted from the sale?

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: 23,000/900=$78

Cost of one share after split: 23,000/900=$26

Cost of 100 shares before split:78*100=7800

Cost of 100 shares after split:26*100=2600

The above sale result in loss of: 7800-2600=$5200

10 b/c 5*2 =10

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3

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