Business, 05.03.2021 02:50 natalie2sheffield

As of December 31, 2021, Warner Corporation reported the following: Cash dividends payable$39,000 Treasury stock 790,000 Paid-in capital—share repurchase 39,000 Common stock and other paid-in capital accounts 5,900,000 Retained earnings 4,900,000 During 2022, half of the treasury stock was resold for $278,000; net income was $790,000; cash dividends declared were $1,690,000; and stock dividends declared were $690,000. The 2022 sale of half of the treasury stock would: Multiple Choice Reduce income before tax by $117,000 Increase total shareholders' equity by $395,000 Reduce retained earnings by $117,000 Reduce retained earnings by $78,000

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As of December 31, 2021, Warner Corporation reported the following: Cash dividends payable$39,000 Tr...

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