The stockholders' equity of Gaffney Company at November 30, 2012, is presented below. Common stock, par value $5, authorized 200,000 shares, 100,000 shares issued and outstanding Paid-in capital in excess of par Retained earnings $500,000 100,000 300,000 $900,000 On December 1, 2012, the board of directors of Gaffney Company declared a 5% stock dividend, to be distributed on December 20. The market price of the common stock was $10 on December 1 and $12 on December 20. What is the amount of the change to retained earnings as a result of the declaration and distribution of this stock dividend?