Required information The following information applies to the questions displayed below) Gilligan Corporation was established on February 15, Year 1. Gilligan is authorized to issue 475,000 shares of $12 par value common stock. As of December 31, Year 3, Gilligan's stockholders' equity accounts report the following balances: Common stock, $12 par, 475,000 shares authorized, 47, see shares issued and outstanding Pald-in capital in excess of par Common $570, eee 95,000 Retained earnings Total stockholders' Equity $ 665,000 1,575,000 $2,240,000 At the end of Year 3. Gilligan decides to issue o 5% stock dividend. At the time of issue, the market price of the stock was $29 per share What is the amount of retained earnings thot will be transferred to pald.in capital as a result of the stock dividend issued by Gilligan Corporation? He What is the amount of retained earings that will be transferred to paid in capital as a result of the stock dividend issued by Gilligan Corporation? Multiple Choice $30,875 $38,000 O $68.875 $109.250 Required information The following information applies to the questions displayed below) Gilligan Corporation was established on February 15. Year 1. Gilligan is authorized to issue 475,000 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, 475,000 shares authorized, 47,500 shares issued and outstanding Paid-in capital in excess of par - Common $570,000 95,000 Retained earnings Total stockholders' Equity $ 665,098 1,525,000 $2,240,000 At the end of Year 3, Gilligan decides to issue a 5% stock dividend. At the time of issue, the market price of the stock was $29 per share. What is the number of shares outstanding after the stock dividend is issued? Muluple Choice 45.125 47.500 477,375 49.875