On January 31, Year 2, Village Bank had 240,000 shares of $2 par value common stock outstanding. On that date, the company declared a Tor stock dividend when the market price of the stock was $26 per share. The immediate effect of this dividend upon Village Bank was: Multple Choice A reduction in retained eamings of $436,800 A lieblity to the stockholders of $33,600. A reduction in cest: of 5436.800