Shannon Manufacturing declared a 10%stock dividendwhen it had 250,000 shares of $3 par value commonstockoutstanding. The market price per common share was $12 per share when thedividendwasdeclared. The entry to record thisdividend declaration includes a credit to

A) retained earnings for $75,000

B) Paid-in-capital in excess of par for $225,000

C) Common stock for $75,000

D) Common stock dividends distributable for $300,000