Eastline Corporation had 11,000 shares of $10 par value common stock outstanding when the board of directors declared a stock dividend of 3,520 shares. At the time of the stock dividend, the market value per share was $14 The entry to record this dividend is Mumple Choice Debit Retained Earnings $49.280 Credit Common Stock Dividend Distributable $49.280 No entry is needed Debit Common Stock Dividend Distributable $49,280, credit Retained Earning 549.280. Debit Retained Earnings $35200. cred Common Stock Dividend Distribble $35.200 Debit Retained Emming $49.280 credit Common Stock Dividend Darts $35.200, credit Peld in Capital in Bress of Par Value. Common Stock $14,080