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A company with 100000 authorized shares of $4 par common stock issued 40000 shares at $8. Subsequently - the company declared a 2% stock dividend on a date when the market price was $11 a share. What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend?

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A company with 100000 authorized shares of $4 par common stock issued 40000 shares at $8. Subsequently - the company declared a 2% stock dividend on a date when the market price was $11 a share. What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend?






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