The board of directors of Capstone Inc. declared a $0.60 per share cash dividend on its $1 par common stock. On the date of declaration, there were 50,000 shares authorized, 22,000 shares issued, and 5,600 shares held as treasury stock. What is the entry for the dividend declaration? Multiple Choice Retained earnings 9,840 Cash dividends payable: 9,840 Retained earnings Cash 0.960 8,960 Retained earnings 8,960 Cash dividends payable 8,960 Retained earnings Cash 9,840 9,840