The balance of the $0.60 par Common Stock account for Company was $60,000 before its recent 3-for-1 stock split. The market price of the stock was $30 per share.

What occurred as a result of the split?

	a.	The par value per share decreased to $10 per share.
	b.	The balance in the common stock account increases to $180,000.
	c.	The market value of each share would theoretically be reduced to $10 per share.
	d.	The balance in the common stock account declines to $20,000.
	e.	The balance in the retained earnings account was decreased.