Gordon Corporation Reported the Following Equity Section on Its Current

Gordon Corporation reported the following equity section on its current balance sheet. The common stock is currently selling for $11.50 per share. Which of the following would be TRUE if the company issued a 2-for-1 stock split?

A) Retained earnings would be decreased by $460,000.
B) Common stock would be increased by $200,000.
C) Paid-in capital in excess of par would be increased by $260,000.
D) None of the account balances would change.