Vaughn Manufacturing has 513000 shares of $10 par value common stock outstanding. During the year Vaughn declared a 15% stock dividend when the market price of the stock was $34 per share. Three months later Vaughn declared a $0.50 per share cash dividend. As a result of the dividends declared during the year, retained earnings decreased by O $2616300 O $ 483700 O $507870 $2911275