Watson Inc. reported the following excerpts from shareholders' equity on January 1, 2021: Preferred shares, 0.90,300,000 issued and outstanding: $6,000,000 Common shares, 400,000 issued and outstanding: $4,400,000 Answer the five (5) following question Q42-Q46 independently. For This Question Only, assume that the company declared/distributed a 5% stock dividend on January 2, 2021 when the market price of the common shares was $10.50 each, prior to this stock dividend. What entry, if any, should Watson make to record this transaction? a. No journal entry required for this transaction. Only a proforma entry is required. b. DR Retained Earnings, $210,000; CR Common Shares, $210,000 c. DR Retained Earnings, $200,000; CR Common Shares, $200,000 d. DR Retained Earnings, $220,000; CR Common Shares, $220,000 e. DR Retained Earnings, $225,000; CR Common Stock Dividend Distributable, $225,000