Question 7 Not yet arswered MarRe 0nEoB Sports Company is authorized to issue 1,000,000 shares of $20 par value common stock, By March 15, 2016, the company had issued 200,000 shares at $68 per share. On March 15, 2016, the company declared a 10% stock dividend when the market price was $80 per share. What amount is transferred from retained earnings to paid-in capital as a result of the stock dividend? Select one: A $1,200,000 C B.$ 400,000 C. $1,600,000 C D. $4,800,000 O O