Apple declared and distributed a 5% stock dividend on its $1 par common stock. As a result, Apple should debit retained earnings for an amount equal to: 1) Zero; no Journal entry needed 2) The total par value of the distributed shares 3) The total market value of the distributed shares 4) Zero; the debit entry is to APIC rather than retained earnings In January 2008, ETrade Corporation issued 10,000 shares of its $1 par common stock for $15 per share. In March 2011, ETrade repurchased 3,000 shares of that common stock for $16 per share and properly recorded treasury stock using the cost method. The in July 2011, ETrade reissued 1,000 shares of that treasury stock for a price of $117 per share. Finally, ETrade retired the remaining 2,000 shares of the treasury stock in November 2011. The above four transactions represent the only stock transactions ever made by ETrade. What is the net change in Retained earnings during 2011 that resulted from the stock transactions that year? 1) $1,000 Decrease 2) $0 3) $2,000 Increase 4) $2,000 Decrease