On June 13, the board of directors of Siewert Inc. declared a 3-for-1 stock split on its 72 million, $7 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $27 on June 13. (a) Prepare the journal entry to record the stock split if it is not to be effected in the form of a stock dividend. (In cases where no entry is required, please select the option "No journal entry required" for your answers to grade correctly. Leave no cells blank - be certain to enter "0" wherever required. Enter your answers in millions of dollars. Omit the "$" sign in your response.) (b) What is the par per share after the split? (Round your answer to 2 decimal places. Omit the "$" sign in your response.)