The shareholders' equity of Sunland Ltd. at July 31, 2023 is presented below:

Common shares, no par value, authorized 402000 shares,
issued and outstanding 201000 shares		$4120500
Retained earnings		2649000
Total shareholders' equity		$6769500

On August 1, 2023, the board of directors declared a 10% stock dividend, to be distributed on September 15. The market price of Sunland's common shares was $34 on August 1 and $37 on September 15. What is the debit to retained earnings as a result of the declaration and distribution of this stock dividend?

Answer rating: 100% (QA)

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