A company originally issued 50,000 shares of $5 common stock at $9. The board of directors declares a 10 % stock dividend when the market price of the stock is $10 a share. Which of the following is included in the entry to record the stock dividend?
A) Retained earnings is decreased, common stock is increased, and paid-in capital is decreased.
B) Retained earnings is increased, common stock is increased, and paid-in capital is increased.
C) Retained earnings is decreased, common stock is decreased, and paid-in capital is increased.
D) Retained earnings is decreased, common stock is increased, and paid-in capital is increased.
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