Concord Inc. has retained earnings of $$160000$ and total stockholders' equity of $$4190000.$ It has $415000$ shares of $$5$ par value common stock outstanding, which is currently selling for $$28$ per share. If Concord declares a $9\%$ stock dividend on its common stock:

retained earnings will decrease by $$1045800$ and total stockholders' equity will increase by $$1045800.$

retained earnings will decrease by $$1045800$ and total paid$-$in capital will increase by $$1045800.$

net income will decrease by $$186750.$

retained earnings will decrease by $$186750$ and total stockholders' equity will increase by $$186750.$