On June 1, 2016, Pat Corporation declared a bonus issue entitling its shareholders to one additional share for each share held. At the time the dividend was declared, the fair value was P10 per share and the par value was P5 per share. On this date, Pat had 600,000 of ordinary shares outstanding. What entry should Pat make to record this transaction? A. Retained Earnings 6,000,000               Share Dividends Distributable 3,000,000               Share Premium 3,000,000 B. Share Dividends Payable 6,000,000               Share Dividends Distributable 3,000,000               Share Premium 3,000,000 C. Retained Earnings 3,000,000               Share Dividends Distributable 3,000,000 D. No entry

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