Alexander Pools Has 700,000 Shares Authorized and 250,000 Shares Issued $\begin{array}{cl}\text { \# of Shares Issued } & \text { Par Value } &\text { Market Price per Share }\\500,000&\$ 2.00 &\$30.00\\\end{array}$

Alexander Pools has 700,000 shares authorized and 250,000 shares issued and outstanding of its $4 par value common stock.The stock is currently selling for $60 per share.If Alexander Pools declared and issued a three-for-one stock split adjusting its par value,what would be the effect on the following items after the stock split? Assume the old shares were exchanged for 750,000 new shares.

A) $\begin{array}{cl}\text { \# of Shares Issued } & \text { Par Value } &\text { Market Price per Share }\\500,000&\$ 2.00 &\$30.00\\\end{array}$

B) $\begin{array}{lccc} \text { \# of Shares Issued } & \text { ParValue } &\text { Market Price per Share }\\750,000 &\$1.33&\$20.00\\\end{array}$

C) $\begin{array}{lccc}\text { \# of Shares Issued } & \text { ParValue }&\text { Market Price per Share } \\750,000 & \$4.00 & \$20.00 \\\end{array}$

D) $\begin{array}{lccc}\text { \# of Shares Issued } & \text { ParValue } &\text { Market Price per Share }\\1,000,000 & \$ 1.00 & \$15.00\\\end{array}$

E) $\begin{array}{lccc}\text { \# of Shares Issued } & \text { ParValue } &\text { Market Price per Share }\\1,000,000 & \$ 12.00 & \$20.00\end{array}$