Pettygrove Company Had 600,000 Shares of $10 Par Value Common

Multiple Choice

Pettygrove Company had 600,000 shares of $10 par value common stock outstanding.The amount of additional paid-in capital is $3,000,000,and Retained Earnings is $900,000.The company issues a 2-for-1 stock split.The market price of the stock is $26.What is the balance in the Common Stock account after this issuance?

A) $12,000,000
B) $13,800,000
C) $6,000,000
D) $9,000,000