On January 1, 2021. Dodd, Ino, declared a 10% stock dividend ons come to be died on January 2016 Doors shares were trading at $30 per share on January 1st and 24 pershare on January 23 holders equity before the stock dividend was declared consisted of: Common stock, $10 par value, authorized 200,000 shares issued and outstanding 120,000 shares 51.200.000 Additional paid-in capital on common stock 150,000 Retained earnings 700.000 Total stockholders' equity $2.050.000 What was the effect on Dodd's retained earnings as a result of the above transaction? $360,000 decrease $120,000 decrease $600,000 decrease $300,000 decrease none of these