A corporation's outstanding common stock was 42,000 shares of $20 par value stock on March 1. Later that day, the board of directors declared a 20% stock dividend when the market value of each share was $26. The entry to record the dividend declaration is: Muitiple Choice Debit Retained Earnings $218,400, credir Cash $218,400 Debit Retained Eatnings $168,000, credit Common Stock Dividend Distributable $168,000 Debit Retained Earnings 5216,400; credit Common Stock Dividend Ower butablo $288,400. No entry is made until the wock is issuad. Debin Patained Eamings $213,400; credit Common Stock Dividend Dbtr butable $168,000; creat Paidf in Capaat in Excess of Par Value. Common 510ks50,400