Practice Question 13 On January 1, Piccolo Company had a balance of $480,000 in its Common Stock account ($10 par value). On April 1, the company issued an additional 2,000 shares of common stock. On July 1, Piccolo Company declared a 10% stock dividend. Then on October 1, the company announced a 2-for-1 stock split. On December 1, the company then declared a $.50 per share cash dividend. How much will be debited to Cash Dividends account to reflect the December 1 dividend declaration? O $110,000 O $50,000 O $55,000 O none of these answer choices are correct