At the time that Kirby Company issued a 5-for-2 stock split, the company had 1,000 shares of $10 par value common stock outstanding. Stockholders' equity also contained $18,000 of additional paid-in capital and $30,000 of retained earnings. Immediately after the stock split the:

Multiple Choice

• amount of paid-in capital in excess of par-common would be equal to $45,000.

• number of outstanding shares of common stock would be 50,000.

• balance in the retained earnings account would amount to $6,000.

• balance in the common stock account would amount to $10,000.