Required information Problem 11-4A Analysis of changes in stockholders' equity accounts LO C3, P2, P3 [The following information applies to the questions displayed below.] The equity sections from Atticus Groups 2016 and 2017 year-end balance sheets follow. Stockholders Equity (December 31, 2016) Common stock$6 par value, 100,000 shares authorized, 30,000 shares issued and outstanding $ 180,000 Paid-in capital in excess of par value, common stock 140,000 Retained earnings 340,000 Total stockholders equity $ 660,000 Stockholders Equity (December 31, 2017) Common stock$6 par value, 100,000 shares authorized, 35,000 shares issued, 5,000 shares in treasury $ 210,000 Paid-in capital in excess of par value, common stock 160,000 Retained earnings ($40,000 restricted by treasury stock) 400,000 770,000 Less cost of treasury stock (40,000 ) Total stockholders equity $ 730,000 The following transactions and events affected its equity during year 2017. Jan. 5 Declared a $0.60 per share cash dividend, date of record January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $0.60 per share cash dividend, date of record April 10. July 5 Declared a $0.60 per share cash dividend, date of record July 10. July 31 Declared a 20% stock dividend when the stocks market value was $10 per share. Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $0.60 per share cash dividend, date of record October 10. Problem 11-4A Part 3 3. What is the amount of the capitalization of retained earnings for the stock dividend?