P13-22. Accounting for retained earnings L.O. 13-4) (Easy -- 5 minutes) 25 Mark Corporation declared and distributed a 5% stock dividend. Mark had 400,000 common shares outstanding and 1,000,000 common shares authorized before the stock dividend. The board of directors determined the appropriate market value per share as $7. Required: How much should be recorded for the stock dividend Record the journal entry (if any) for the shares distributed