The market price of XYZ company's stock is 60. The price-earnings ratio is 10 and earnings per share is 6.00. If the stock were to be split 2-for-1, which of the following statements is true? 1) The market price of the stock will remain the same 2) The market price of the stock will decrease 3) The market price of the stock will increase 4) The market price of the stock cannot be determined
