The Baxter Company has 30,000 shares of $3 par common stock outstanding. The companys board of directors declares a 3-for-1 stock split when the market price is $9 per share. Which of the following statements are correct? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer.)

After the stock split, the company will have 10,000 shares, each with an approximate market value of $9.unchecked

After the stock split, the company will have 90,000 shares, each with an approximate market value of $3.unchecked

The par amount of the shares becomes $1 per share.unchecked

No journal entry is recorded.unchecked