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A company with 120,000 authorized shares of $5 par common stock issued 50,000 shares at $13. Subsequently, the company declared a 2% stock dividend

A company with 120,000 authorized shares of $5 par common stock issued 50,000 shares at $13. Subsequently, the company declared a 2% stock dividend on a date when the market price was $35 per share. What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend? a. $5,000 Ob. $35,000 c. $84,000 d. $30,000

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