As of 1/1/17, Demo-dog Corp. has 30,000 shares of common stock issued and outstanding with a par value of $3 per share. The shares were originally issued for $16 per share, and since then, the market price has climbed to $24 per share as of 1/1/17. The company decides to issue a 3-for-1 stock split on 1/1/17.

Which of the following effects will occur due to the split? Mark all that apply.

Group of answer choices

Demo-dog's shares outstanding will triple to 90,000 shares

Demo-dog's par value will decrease to $1 per share

Demo-dog will debit 'retained earnings' by $1,440,000

Demo-dog will debit 'retained earnings' by $180,000

The stock (market) price should immediately drop to be $8 per share