8. What effect does the issuance of a 2-for-1 stock split have on each of the following? Total Par Value Number of Shares No effect Decrease b. Increase Decrease Decrease No effect d. No effect Increase a. C. 9. Norton Company issues 10,000 shares of its $5 par value common stock having a fair value of $9.90 per share and 6,000 shares of its $10 par value preferred stock having a fair value of $13.50 per share for a lump sum of $175,000. What amount of the proceeds should be allocated to the preferred stock? a. $99,000 b. $81,000 c. $78,750 d. $96,250 e. None of the above