34. What is the effect of the declaration and subsequent issuance of a 10% stock dividend on each of the following? Retained earnings decrease a. b. c. d. no effect increase no effect Paid-in capital increase increase decrease no effect 35. The 12/31/2021 balance sheet of Despot Inc. included the following: Common stock, 25 million shares at $20 par $ 500 million Paid-in capital excess of par 3,000 million Retained earnings 980 million In January 2021, Despot recorded a transaction with this journal entry: Cash 150 million Common stock Paid-in capital-excess of par The transaction was for the A) Issue of 2 million shares of common stock at par. B) Issue of common stock for $150 million in cash. C) Receipt of $20 per share for a new stock issue. D) All of these answer choices are correct. 100 million 50 million