On 03-15-19, Evan, Inc. declared a property dividend. On 04-24-19, Evan will distribute its entire investment in Shannon Company's $1 par value common stock to Evan, Inc.'s stockholders. As of the date of declaration, the carrying value of Evan's investment was $2,500,000 while the fair value of Evan's investment was $2,100,000. As a result of accounting for the property dividend, Evan's retained earnings account will increase/decrease by:

Answer options:

A. decrease $2,500,000

B. decrease $4,600,000

C. decrease $2,100,000

D. increase $400,000

E. decrease $400,000