McQueen Company has $420,000$ shares of $$10$ par value common stock outstanding. During the year Masterson declared a $5\%$ stock dividend when the market price of the stock was $$36$ per share. Three months late McQueen declared a $$\mathrm{.}60$ per share cash dividend. As a result of the dividends declared during the year, how much is the retained earnings decreased? $(2$pts$)$ Show your solution and entry $(10$pts$)$