When should the dividends payable account be credited due to a declaration of stock dividend? Date of payment B. Date of record Date of declaration D. Never, because a stock dividend does not result in a liability C. Clear my choice SplitsCorp issued a 3-for-2 stock split of its common shares which had an average issuance price of $70 and a market value of $100 before the split. Twenty thousand old shares were exchanged for 30,000 new shares. What dollar amount of retained earnings should be transferred to the Common Shares account? Zero. B. $2,000,000 C. $3,000,000 A D. $1,400,000