Forward Stock Split On March $1$ of the current year, Sentry Corporation has $500,000$ shares of $$10$ par value common stock that are issued and outstanding. The general ledger shows the following account balances relating to the common stock: Common stock $$5,000,000$ Paid$-$in capital in excess of par value $3,500,000$ On March $2,$ Sentry Corporation splits its stock $2-$for$-1$ and reduces the par value to $$5$per share. a$./$How many shares of common stock is issues and outstanding immediately following the stock split? b$./$ What is the balance in the common stock account immediately following the stock split? c$/.$What is the balance in the paid$-$in capital in excess of the par$-$ value account immediately folliwng the stock split? d$/.$ Is a journal entry required to record the forward stock split? If yes, prepare the entry.