The Stock Dividend Relabels a Portion of the Retained Earnings

The stock dividend relabels a portion of the retained earnings that had been legally available for dividend declarations as a more permanent form of shareholders' equity, because

A) the firm has used some funds represented by past earnings to expand plant facilities or to replace assets at increased prices or to retire bonds.
B) the firm does not have this cash available for cash dividends
C) the stock dividend does not affect the availability of cash on hand or cash that the firm has already invested; rather, the stock dividend signals to readers of the balance sheet, perhaps more clearly than before, the commitment to investment.
D) all of the above
E) none of the above