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MacArthur Company began operations on March 1, 2015. The corporate charter authorized issuance of 3,000...

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Accounting

MacArthur Company began operations on March 1, 2015. The corporate charter authorized issuance of 3,000 shares of $2 par value common stock. MacArthur sold all of the stock on March 1. On May 1, MacArthur repurchased 2,000 of the outstanding shares. On May 14, MacArthur sold 1,200 of the treasury shares. On June 1, MacArthur declared a 2-for-1 stock split. As a result of the split, what occurred?

Assets declined.

Stockholders' equity increased.

Stockholders' equity decreased.

Total stockholders equity stayed the same.

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