Lawrenceville Co.reported the Following: ​

Multiple Choice

Lawrenceville Co.reported the following: ​
Common stock,$3 par,10,000 shares authorized,5,000 shares issued and outstanding
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What is the effect of a 10% stock dividend if the market price of the common stock is $30 per share when the dividend is declared?

A) Cash decreases $30,000.
B) Retained earnings in the amount of $15,000 is transferred to the contributed capital accounts.
C) Additional Paid-In Capital decreases $30,000.
D) A stock dividend has no effect on any stockholders' equity accounts.