16 Close San Antonio Inc. has 2,000,000 share of common stock with a par value of 510. Additional paid-in capital totals $10,000,000 and retained earnings is $12,000,000. The directors declare a 10% stock dividend when the market value is $15. The reduction of retained earnings as a result of the declaration will be: (2 points) 3,000,000 $ 1,000,000 $ None of the above 2,000,000 $