ABC Company declared a 40% common stock dividend when the market price of its $2 par value common stock was $7 per share. ABC Company has 25,000 shares of stock outstanding. What is the journal entry to record the stock dividend? No journal entry necessary DR Retained Earnings $70,000 CR Common Stock $20,000 CR APIC $50,000 DR Retained Earnings $10,000 CR Common Stock $10,000 DR Retained Earnings $20,000 CR Common Stock $20,000