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A company with 112,000 authorized shares of $7 par common stock issued 48,000 shares at $15. Subsequently, the company declared a 2% stock dividend on

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A company with 112,000 authorized shares of $7 par common stock issued 48,000 shares at $15. Subsequently, the company declared a 2% stock dividend on a date when the market price was $24 per share. What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend? O. $6,720 Ob. $16,320 Oc. $53,760 d. $23,040

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