Question 2 2 points On January 1, Doyle declared a 10% stock dividend on its common stock when the fair value of the common stock was $20 per share. Stockholders' equity before the stock dividend was declared consisted of: Common stock, S10 par value, authorized 200,000 shares, issued and outstanding 120,000 shares $1,200,000 Additional paid-in capital on common stock 150,000 Retained earnings 700,000 Total stockholders' equity $2.050.000 What was the effect on Doyle's retained earnings as a result of the above transaction? A. $120,000 decrease B. $200,000 decrease C. $400,000 decrease D. $240,000 decrease