Rick Co. had 20 million shares of $3 par common stock outstanding at January 1, 2018. In October 2018, Rick Co.s Board of Directors declared and distributed a 3% common stock dividend when the market value of its common stock was $67 per share. In recording this transaction, Rick would: Multiple Choice Credit paid-in capital-excess of par for $40.20 million. None of these answer choices are correct. Debit retained earnings for $40.20 million Credit common stock for $40.20 million