Rick Co. had 26 million shares of $1 par common stock outstanding at January 1, 2013. In October, 2013, Rick Co.'s Board of Directors declared and distributed a 1% common stock dividend when the market value of its common stock was $68 per share. In recording this transaction, Rick would:

a-Credit common stock for $17.68 million

b- Credit paid-in capital excess of par for $17.68 million

c- Debit retained earnings for $17.68 million

d-None of these is correct