On July 1,2013,Lee Corporation Had 10,000 Shares of Its $200

On July 1,2013,Lee Corporation had 10,000 shares of its $200 par value common stock outstanding.On July 2,2013,Lee declared a 15 percent stock dividend to be distributed on August 6,2013,to shareholders of record on July 16,2013.What amount of retained earnings should be transferred to contributed capital because of this dividend?

A) None
B) Market value of the stock at the date of distribution multiplied by the number of dividend shares
C) Market value of the stock at the date of declaration multiplied by the number of dividend shares
D) Par value per share multiplied by the number of dividend shares