10. On September 1, Reedy Company has 500,000 shares of $30 par value ($330 market value) common stock that are issued and outstanding. lts balance sheet on that date shows the following account balances relating to its common stock: Common stock ....................................... 15,000,000 Paid-in capital in excess of par value .......... 9,000,000 On September 2, Reedy splits its stock 3-for-2 and reduces the par value to $20 per share. How many shares of common stock are issued and outstanding immediately after the stock split? a. 500,000 shares b. 333,333 shares c. 750,000 shares d. 15,000,000 shares Answer: c