Exercise 10-71 Stock Split Birch Enterprises reported the following information common stock, $3 par; 750,000 shares authorized; 400,000 shares issued and outstanding Required: What is the typical effect of a 4-for-1 stock split on the information Birch Enterprises reports above? If the market value of the common stock is $600 per share when the stock split is declared, what would you expect the approximate market value per share to be immediately after the split? Given the information provided above, calculate the effect on each of the following items. If required, round your answers to two decimal places Authorized Shares 3,000,000 shares Issued shares 1,600,000 shares Market value per share 0.75 X Par value per share 150,00 X