A company reported the following amounts on its balance sheet at January 1, 2015:

Common Stock, $10 par $ 25,500

APIC- Common 75,200

Retained Earnings 93,000

On Nov. 5, 2015 the company declared and distributed a 4% stock dividend on common stock when the stock was selling at $23 per share. On December 31, 2015, the company reported yearly net income to be $32,000. What is the Dec 31, 2015 balance in Retained Earnings and APIC Common after closing entries?

A. Retained Earnings APIC - Common

$122,654 $76,526

B. Retained Earnings APIC - Common

$125,000 $75,200

C. Retained Earnings APIC - Common

$125,000 $76,526

D. Retained Earnings APIC - Common

$122,654 $75,200

E. Retained Earnings APIC - Common

$123,980 $76,526