On June 30, 2017, Texas, Inc. showed the following data on the equity section of their balance sheet: 
On July 1, 2017, the company declared and distributed a 11% stock dividend. The market value of the stock at that time was $20 per share. As a result of this stock dividend, what is the balance of Retained Earnings?
A) $768,060
B) $952,000
C) $983,220
D) $617,800
Correct Answer:
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