The stockholders' equity of Waterway Industries at July 31, 2021 is presented below: Common stock, par value $20, authorized 400,000 shares; issued and outstanding 154000 shares Paid-in capital in excess of par $3080000 157000 Retained earnings 658000 $3895000 On August 1, 2021, the board of directors of Waterway declared a 16% stock dividend on common stock, to be distributed on September 15th. The market price of Waterway's common stock was $68 on August 1, 2021, and $74 on September 15, 2021. What is the amount of the debit to retained earnings as a result of the declaration and distribution of this stock dividend? $1823360. $ 924000. O $1675520. O $1182720