ABC Corporation Issued a Two-For-One Stock Split

Multiple Choice

ABC Corporation issued a two-for-one stock split. The number of outstanding shares before the split was 20,000 and the par value was $24 per share. After the split, what was the par value per share and number of shares? (Round your answer to the nearest cent.)

A) 40,000 shares and $24 per share
B) 40,000 shares and $6.00 per share
C) 40,000 shares and $12.00 per share
D) 40,000 shares and $48 per share