9. Rick Co. had 27 milion shares of $2 par common stock outstanding at January 1, 2016. In October, 2016, Rick 's Board of Directors declared and distributed a 2% common stock dividend when the market value of its common stock was $60 per share. In recording this transaction, Rick would: O Credit paid-in capital - excess of par for $32.40 million. O Debit retained earnings for $32.40 million O None of these answer choices correct O Credit common stock for $32.40 million