At December 31, 2019, Bixby Corporation had 30,000 shares outstanding of $10 par value common stock. The shares were originally issued for $26 per share. On January 1, 2020, Bixby split its common stock 4 for 1 with a corresponding reduction in the stock’s par value. The market price of the stock just before the split was $60 per share. After the split, the balance of the common stock account is:
$ 900,000
$ 780,000
$1,800,000
$ 300,000
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