White Corp. has outstanding 40,000 shares of $5 par value common stock. At year-end, the company declares and issues a 6 % common stock dividend when the market price of the stock is $22 per share. What will be the entry to retained earnings as a result of this stock dividend? Select one: A. $12,000 debit B. $40,800 credit C. $52,800 debit D. $40,800 debit