The stockholders' equity of Sheridan Company at July 31, 2018 is presented below: Common stock, par value $20, authorized 400,000 shares; issued and outstanding 165000 shares $3300000 Paid-in capital in excess of par 170000 Retained earnings 658000 $4128000 On August 1, 2018, the board of directors of Sheridan declared a 14% stock dividend on common stock, to be distributed on September 15th. The market price of Sheridan's common stock was $68 on August 1, 2018, and $74 on September 15, 2018. What is the amount of the debit to retained earnings as a result of the declaration and distribution of this stock dividend?

A)$1570800.

B)$1709400.

C)$ 1108800.

D)$ 990000.