Nice International Originally Issued 105,000 Shares of Common Stock at a Price

Nice International originally issued 105,000 shares of common stock at a price of $22 per share.A year later,it distributed a 12% stock dividend to shareholders.At the time of the stock dividend,the share price had increased to $27 per share.Which of the following statements is TRUE?

A) Nice will record sales revenues of $277,200.
B) Nice will record a loss of $63,000.
C) Nice will record a gain of $63,000.
D) Nice will record neither a gain nor a loss.