14 On September 1, Primrose Industries with 100,000 shares of $5 par value common stock and $2,000,000 of Retained Earnings issues a 2-for-1 stock split. The market price of the stock on that date is $24 per share Which of the following statements is correct concerning this stock split? Skipped Multiple Choice Contributed capital will increase by $500,000. Retained Earnings will decrease by $2,400,000 Dividends payable will increase by $500,000 No entry will be made for this transaction. 4