by $10,000. STOCK DIV QUESTION CH15: The stockholders' equity accounts of Irvine Pacific have the following balances on December 31, 2017. Common stock, $10 par, 300,000 shares issued and outstanding $3,000,000 Paid-in capital in excess of par-common stock 1,200,000 Retained earnings 5,600,000 Shares of Irvine Pacific are currently selling on the OC Stock Exchange at $37 (fair market value). A stock dividend of 5% is declared and issued. After the dividend, what is the balance of retained earnings? Select one: O a. 5,045,000 O b. 5,600,000 O c. 150,000 O d. 5,450,000