On January 1, 2023, when the market value of its common shares was $15 per share, Cullumber Inc. declared a 10% common stock dividend. Shareholders' equity before the stock dividend was declared was: Common shares, no par value, authorized 296000 shares. issued and outstanding 191000 shares Retained earnings Total shareholders' equity $2120000 2559000 $4679000 What was the effect on Cullumber's retained earnings as a result of the stock dividend?