On January 1, 2021. Concord Corporation, declared 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 dedared consisted of: Common stock, $10 par value, authorized 200,000 shares: issued and outstanding 122000 shares $1220000 Additional paid-in capital on common stock 149000 Retained earnings 713000 Total stockholders equity $2082000 What was the effect on Concord's retained earnings as a result of the above transaction? O $195200 decrease $634400 decrease $390400 decrease $317200 decrease