11. Gilbert Corporation's board of directors approved a 2-for-1 common stock split. $10 par value before the split. At what amount shouldretained eamings be reduced for the additional shares issued? a. b. C. d. The common stockhada Retainedeamings is not affectedby a stock split. Par value of the new shares. Market value ofthe new shares on the declaration date. Market value of the new shares on the distribution date. 12. Which ofthe following items is included on the statement ofretained eamings? a. b. C. d. The effects ofextraordinary items. The effects of discontinued operations. The effects ofa change in accountingprinciple Prior penod adjustments