A corporation had 14000 shares of $10 par value common stock outstanding when

A corporation had 14000 shares of $10 par value common stock outstanding when the board of directors declared a stock dividend of 5320 shares. At the time of
the stock dividend the market value per share was $20. The entry to record this dividend is:

a.) Debit Retained Earnings $53200; credit Common Stock Dividend Distributable $53200

b.) No entry is needed

c.) Debit Retained Earnings $106400; credit Common STock Dividend Distributable $53200; credit Paid in Capital in Excess of Par Value Common Stock $53200

d.) Debit Common Stock Dividend Distributed $106400; credit Retained Earnings $106400

e.) Debit Retained Earnings $106400; credit Commong Stock Dividend Distributable $106400.

Must explain the answer in order to receive full credit.