Davis Enterprises has 272,000 shares of $5 par value common stock outstanding. Davis declares a 40% stock dividend on March 2 when the stock's market value is $64 per share. The journal entry for the declaration of the stock dividend is: Multiple Choice Account Title Retained Earnings Debit 544,000 Credit Common Dividend Payable 544,000 Account Title Common Stock Dividend Distributable Retained Earnings Debit 544,000 Credit 544,000 Account Title Retained Earnings Debit 6,963,200 Credit Common Stock Dividend Distributable. 6,963,2001