A Corporation Reported the Following Equity Section on Its Current

A corporation reported the following equity section on its current balance sheet. The common stock is currently selling for $12.00 per share. $\begin{array} { | l | r | } \hline \text { Common stock, } \$ 5 \text { par, } 100,000 \text { shares authorized, } 50,000 \text { shares issued } & \$ 250,000 \\\hline \text { Paid in capital in excess of par } - \text { common } & 150,000 \\\hline \text { Retained earnings } & \underline { 500,000 } \\\hline \text { Total stockholders' equity } & \$ 900,000 \\\hline\end{array}$ Which of the following would be included in the entry to record the distribution of a 15% stock dividend?

A) Common Stock-$5 Par Value would be credited for $37,500.
B) Retained Earnings would be debited for $35,000.
C) Paid-In Capital in Excess of Par-Common is debited for $35,000.
D) Retained Earnings would be credited for $60,000.