Company A has 500,000 shares of stock outstanding and declares a 20% stock dividend. Which of the following is false?

	A.	There is no change in the proportion of the company that each stockholder owns
	B.	The number of shares outstanding will be 600,000 after the dividend is paid
	C.	Par value of the shares at the time of the dividend will be used to determine the dollar value of the dividend
	D.	Retained earnings is reduced by the amount of the dividend
	E.	None of the above