Hernandez Company has 650,000 shares of $10 par value common stock outstanding. During the year, Hernandez declared a 10% stock dividend when the market price of the stock was $30 per share. Four months later Hernandez declared a $0.20 per share cash dividend. As a result of the dividends declared during the year, retained earnings decreased by Select one: a. $1,988,000. b. $1,950,000. c. $2,093,000. d. $715,000