On January 1, 2020, when the market value of their common shares was $ 15 per share, Crooks Inc. declared a 10% common stock dividend. Shareholders' equity before the stock dividend was declared was: Common shares, no par value, authorized 300,000 shares, issued and outstanding 180,000 shares $2,125,000 Retained earnings 2,550,000 Total shareholders' equity $ 4,675,000 What was the effect on Crook's retained earnings as a result of the stock dividend