The stockholders' equity of Concord Inc. at December 31, 2019, appears below: Common stock, $15 par value, 200,000 shares authorized 135,000 shares issued and outstanding 2,025,000 Paid-in capital in excess of par value 1,750,000 Retained earnings 2,375,000 During 2020, the following transactions occurred: May 10: Declared a 2-for-1 stock split December 10: Declared a cash dividend of $2.50 per share to be paid in January 2021. December 31: Recognized net income of $ 1,087,000. a. How will the total amount of equity of the balance sheet be affected by this stock split? Increase Decrease No effect (Circle One) b. How much was the cash dividend paid? Ans: c. What was the ending balance of retained earnings on December 31, 2020? Ans: WA