Gilligan Corporation was established on February 15, Year 1. Gilligan is authorized to issue 400,000 shares of $12 par value common stock. As of December 31, Year 3, Gilligan's stockholders' equity accounts report the following balances: $480,000 Common stock, $12 par, 400,eee shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par - Common 80,000 Retained earnings Total stockholders' Equity $ 560.ee 485, eee $1,045, eee At the end of Year 3, Gilligan decides to issue a 5% stock dividend. At the time of issue, the market price of the stock was $38 per share. Which of the following journal entries will be used to record the stock dividend? Multiple Choice 76,000 Retained earnings Common stock Paid-in capital in excess of par value 24, eee 52,000 Common O 24,000 Retained earnings Common stock 24,000 48, Beel Common stock Retained earnings Paid-in capital in excess of par value 24,000 24,000 Common