As of December 31,2021. Warner Corporation renorted the following: During 2022, half of the treasury stock was resold for $240,000; net income was $600,000; cash dividends declared were $1,500,000; and stock dividends declared were $400,000. The 2022 sale of half of the treasury stock would: Reduce income before tax by $60,000. (B) Decrease retained earnings by $60,000. Increase total shareholders' equity by $300,000. Increase total shareholders' equity by $240,000