On december 31, year 1, waw corp. had the following balances in its equity accounts: common stock, $10 par $ 50,000 paid-in capital in excess of par 150,000 retained earnings 100,000 total equity $300,000 on january 1, year 2, waw split its stock 2-for-1 when the market value of the shares was $12. on the same date, the number of authorized shares was increased from 50,000 at $10 par to 100,000 at $5 par. assuming no other transactions affected the capital account balances given above, the stock split had what effect? paid-in capital in excess of par retained earnings
a) decrease decrease paid-in capital in excess of par retained earnings
b) increase decrease paid-in capital in excess of par retained earnings
c) no effect decrease paid-in capital in excess of par retained earnings
d) no effect no effect