Holton Company currently has 9,000 shares of $12 par common stock outstanding that has been issued at an average price of $60 per share. It declared a three for one stock split.

Prepare whatever entry is necessary to record the stock split, assuming the following independent alternatives:

1) The par value is reduced to $4 per share

2) The par value is reduced to $6 per share

3) The par value is reduced to $3 per share.