D eshon/23 Question 24 View Policies Current Attempt in Progress 01:06:22 Hide Timer The stockholders' equity of Concord Corporation at July 31, 2021 is presented below Common stock, par value $20. authorized 400.000 shares issued and outstanding 157000 shares $3140000 Paid in capital in excess of par 156000 Retained earnings 650000 $3946000 On August 1.2021, the board of directors of Concord declared a 14% stock dividend on common stock, to be distributed on September 15th. The market price of Concord's common stock was $68 on August 1.2021, and $74 on September 15, 2021. What is the amount of the debit to retained earnings as a result of the declaration and distribution of this stock dividend? $1626520 $942000 $1494640 $ 1055040