Flatfish Limited reported the following items in shareholders equity on December 31, 2020:

Share capital: Preferred shares, $5 cumulative dividend, 150,000 shares issued and outstanding		$15,000,000
Share capital: Common shares, 750,000 issued and outstanding		30,000,000
Retained earnings		25,000,000

question: Early in 2021, when its common shares were selling at $59 per share, the company declared and distributed a 10% stock dividend. Describe the impact that this declaration will have on the shareholders equity accounts. (Hint: It may be helpful to prepare the journal entry and closing entry related to this transaction.)