Question: Can I please have the steps on solving the below question On October 1, 2021, Chief Corporation declared and issued a 6% stock dividend. Before

Can I please have the steps on solving the below question

On October 1, 2021, Chief Corporation declared and issued a 6% stock dividend. Before this date, Chief had 77,000 shares of $5 par common stock outstanding. The market price of Chief Corporation on the date of declaration was $10 per share. As a result of this dividend, Chief's retained earnings will:

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