Question 24 Not yet answered Marked out of 1.00 Flag question Nicholas Co. has 500,000 authorized shares of $1 par value common stock, with 132,000 shares issued and outstanding with a total current market value of $90,000. You are the owner of 12% of the stock. Which statement describes what happens when Nicholas Co. executes a 3-for-1 forward stock split? Select one: a. You receive 47,520 additional shares of stock b. Your ownership is worth $270,000 after the split c. You return your original shares to the company, and receive 47,520 new shares in exchange d. You will own 36% of the company's stock after the split