Required information [The following information applies to the questions displayed below.) Gilligan Corporation was established on February 15, Year 1. Gilgan is authorized to issue 375,000 shares of $12 par value common stock. As of December 31, Year 3, Gilligan's stockholders' equity accounts report the following balances: Common stock, 512 par, 375,000 shares authorized, 37,500 shares issued and outstanding Paid-in capital in excess of par - Common $450,000 75,000 Retained earnings Total stockholders' Equity $525,000 470.000 $995,000 At the end of Year 3. Gilligan decides to issue a 6% stock dividend. At the time of issue, the market price of the stock was $22 per share. What is the amount of retained earnings that will be transferred to pald-in capital as a result of the stock dividend issued by Gilligan Corporation? nh