Help Save & Exit Sa Eastline Corporation had 16,500 shares of $5 par value common stock outstanding when the board of directors declared a stock dividend of 5 445 shares. At the time of the stock dividend, the market value per share was $15. The entry to record this dividend is: Multiple Choice Debit Common Stock Dividend Distributable $81675, credit Retained Earnings $81675 Debt Retained Earnings $27225, credit. Common Stock Dividend Distributable $27225 o No entry is needed Debit Retained Earnings $81675 Credit Common Stock Dividend Distributable $81675 Debit Common Stock Dividend Distributable $81,675, credit Retained Earnings $81,675 Debit Retained Earnings $27,225, credit Common Stock Dividend Distributable $27.225. No entry is needed. Debit Retained Earnings $81.675: credit Common Stock Dividend Distributable $81.675. Debit Retained Earnings $81.675. credit Common Stock Dividend Distributable $27225. credit Poid-in Capital in Excess of Par Value. Common Stock $54.450