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What would the transaction for george company

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Problem 1: George Company has 500,000 shares authorized, and 55,000 shares issued and outstanding of $6 par value common stock. At the end of 2016, the company declared and issued a 5% stock dividend, when the market price of the stock was $22 per share. This transaction would:

Option 1: Increase Retained Earnings by $60,500
Option 2: Increase Common Stock by $60,500
Option 3: Increase Paid in Capital, excess of Par, Common Stock by $44,000
Option 4: Decrease Retained Earnings by $16,500

Reference no: EM132945184

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