Eastline Corporation had 18,000 shares of $10 par value common stock outstanding when the board of directors declared a stock dividend of 6,480 shares. At the time of the stock dividend, the market value per share was $18. The entry to record this dividend is: Debit Common Stock Dividend Distributable $116,640; credit Retained Earnings $116,640. Debit Retained Earnings $116,640; credit Common Stock Dividend Distributable $64,800; credit Paid-In Capital in Excess of Par Value, Common Stock $51,84o. Debit Retained Earnings $64,800; credit Common Stock Dividend Distributable $64,800. No entry is needed. Debit Retained Earnings $16,640; credit Common Stock Dividend Distributable $116,640.