On June 30, 2018, Dakota, Inc On July 1, 2018, the Company Declared and Distributed a on the Equity

On June 30, 2018, Dakota, Inc. showed the following data on the equity section of their balance sheet: $$\begin{array} { | l | r | } \hline \text { Stockholders' Equity } & \\\hline \text { Common Stock, } \$ 1 \text { par; } 195,000 \text { shares authorized, } & \\149,000 \text { shares issued and outstanding } & \$ 149,000 \\\hline \text { Paid-In Capital in Excess of Par-Common } & \$ 260,000 \\\hline \text { Retained Earnings } & \$ 949,000 \\\hline \text { Total Stockholders' Equity } & \$ 1,358,000 \\\hline\end{array}$$ On July 1, 2018, 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) $770,580
B) $951,000
C) $981,780
D) $621,200