Cash dividends declared on the no par value common shares of Athens Corp. were as follows: 1st quarter of 2020 $330,000 2nd quarter of 2020 350,000 3rd quarter of 2020 420,000 4th quarter of 2020 450,000 The 4th quarter cash dividend was declared on December 20, 2020, to shareholders of record on December 31, 2020, to be paid on January 9,2021. In addition, Athens declared a 10% common stock dividend on December 1, 2020, when there were 400,000 shares issued and outstanding, and the market value of the common shares was $16 per share. The shares were issued on December 21 2020 What was the effect on Athens shareholders equity accounts during 2020 as a result of the above transactions? shares issued and outstanding, and the market value of the common shares was $16 per share. The shares were issued on Decem 21, 2020 What was the effect on Athens' shareholders' equity accounts during 2020 as a result of the above transactions? Common Shares Retained Earnings $-0- $1,550,000 debit $300,000 credit $1,950,000 debit $640,000 credit $2,190,000 debit $540,000 credit $1,740,000 debit