At the Beginning of the Current Year, Bard Corporation Had

Multiple Choice

At the beginning of the current year, Bard Corporation had 400,000 shares of $1 par common stock outstanding and had retained earnings of $11,000,000. During the year, the company earned $5,000,000, declared a 5% stock dividend when the price of stock was $25 per share, and paid a year-end cash dividend of $2 per share. (The cash dividend was paid after the stock dividend had been distributed.) Bard Corporation's retained earnings at the end of the year amount to:

A) $16,000,000.
B) $14,660,000.
C) $14,320,000.
D) $14,700,000.