Required information [The following information applies to the questions displayed below.] Bacon Inc. has the following stockholders' equity section in its May 31, 2019, comparative balance sheets: Paid-in capital: Preferred stock, $120 par value, 9%, cumulative, 200,000 shares authorized, 140,000 shares issued and outstanding May 31, 2019 April 30, 2019 $16,800,000 $16,800,000 Common stock, $5 par value, 1,000,000 shares authorized, 600,000 and 540,000 shares issued, respectively 2 Additional paid-in capital Retained earnings. 26,100,000 36,200,000 2,700,000 23,220,000 34,640,000 Less: Treasury common stock, at cost; 72,000 shares and 68,000 shares, respectively (4,412,000) (4,148,000) Total stockholders' equity $ ? $73,212,000 g. Assume that instead of the stock dividend described in f, the board of directors authorized a 2-for-1 stock split on June 1 when the market price of the common stock was $70 per share. 1. What will be the par value, and how many shares of common stock will be authorized after the split? (Round "Par value" answer to 2 decimal places.) Answer is complete but not entirely correct. Par value Number of shares $ 600,000.00 10 10 Required information 2. What will be the market price per share of common stock after the split? Answer is complete but not entirely correct. Market price $ 10 3. How many shares of common stock will be in the treasury after the split? Number of shares