22 of 24 Marks When should the dividends payable account be credited due to a declaration of stock dividend? O A Date of payment O B. Date of record OC. Date of declaration OD. Never, because a stock dividend does not result in a liability Unsure 23 of 24 Marks SplitsCorp issued a 3-for-2 stock split of its common shares which had an average issuance price of $70 and a market value of $100 before the split. Twenty thousand old shares were exchanged for 30,000 new shares. What dollar amount of retained earnings should be transferred to the Common Shares account? O A. Zero OB. $2,000,000 OC. $3,000,000 OD. $1,400,000 Unsure | 24 of 24 2 Marks Taouk Company reported total shareholders' equity of $58,000 on its statement of financial position dated December 31, 2021. During 2021, it reported net earnings of $4,000, declared a cash dividend of $2,000, declared and distributed a common stock dividend of $3,000, and issued preferred shares of $20,000. What was total shareholders' equity at January 1, 2021 (.e. the beginning of the same year)? O A. The beginning shareholders' equity cannot be determined without knowing the beginning balance of retained earnings. OB. $39,000 OC. $36,000 OD $38,000 Unsure