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 B. $ 400,000 C. $1,600,000 D. $4,800,000