Multiple Choice Question 99 On January 1, 2018, Sheffield Corp., dedared a 10% stock dividend on its common stock when the fair value of the common stock was $32 per share. Stockholders' equity before the stock dividend was declared consisted of: Common stock, $10 par value, authorized 200,000 shares; Issued and outstanding 129000 shares $1290000 Additional paid in capital on common stock 149000 Retained earnings 659000 Total stockholders' equity $2098000 What was the effect on Sheffield's retained earnings as a result of the above transaction? O $412800 decrease $206400 decrease O $670800 decrease O $335400 decrease