On January 1, 2018, Arwing Inc. declared a 10% stock dividend on its common shares when the market value of the common shares was $20 per share. Shareholders' equity before the stock dividend was declared consisted of Common shares, authorized 200,000 shares, issued 120,000 shares Retained eamings Total shareholders equity S1,350,000 700.000 S2.050.000 What was the effect on Arwing's retained earnings as a result of the above transaction? O $120,000 decrease $240,000 decrease $400,000 decrease $200,000 decrease