$37)$ Which of the following occurs when the board of directors declares a $3-$for$-1$ stock split on $17,000$ outstanding shares of $$24$ par common stock?

A$)$ The par value of the stock remains the same.

B$)$ The par value of the stock increases to $$48$ per share.

C$)$ The number of outstanding shares remains at $17,000.$

D$)$ The number of outstanding shares increases to $51,000.$

E$)$ none of the above