. 11, 12 & 13) Seved Help Save & EX wltimate Sportswear had 18,000 shares of $10 par valae common stock outstanding when the board of directors declared a stock dividend of 6,480 Thares. At the time of the stock dividend, the market value per share was $18. The entry to record this dividend is: Multiple Choice Debit Retained Earnings $116,640; credit Common Stock Dividend Distributable $116,640. No entry is needed Debit Retained Earnings $64,800; credit Common Stock Dividend Distributable $64,800. Debit Common Stock Dividend Distributable $116,640, credit Retained Earnings $116,640 Debit Retained Earnings 116,640, credit Common Stock Dividend Distributable $64,800 credit Paid in Capital in excess of Par Value Common Stock $51,840 ***