Problem
1.) Steve owned 942 shares of Graham Corporation. On January 3, a 5-for-4 split was announced. The stock was selling at \( \$ 56 \) per share before the split. How was Steve financially affected by the split? \[ 942 \times 5 / 4= \]
Solution
Step 1 ：\( 942 \times \frac{5}{4} \)
Step 2 ：\( \frac{4710}{4} \)
Step 3 ：\( 1177.5 \)
