Which of the following statements about treasury stock is false? Elmer Company has 15,000 shares of common stock authorized. The stock has a par value of $1.50 per share, and 15,000 shares are outstanding. The company declared a 50% stock dividend at a time when the market value was $3.50 per share. What entry, If any, should Elmer record for the declaration? Net income was $468,600 in 2014 and $366,500 in 2013. The year-to-year percentage change in income is closest to