The jennings group reacquired 2 million of its shares at $70 per share as treasury stock. last year, for the first time, jennings sold 1 million treasury shares at $71 per share. by what amount will jennings’ retained earnings decline if it now sells the remaining 1 million treasury shares at $67 per share?

Telecom co. enters into a two-year contract with a customer to provide wireless service (voice and data) for $40 per month. to induce customers, telecom co. provides a free phone. telecom co. normally sells the phone on a stand-alone basis for $200. telecom co. also charges the customer a one-time activation fee of $35.which of the following is true? a) there are two distinct performance obligations: the voice service and the data service b) the free phone constitutes as a marketing expense c) the activation fee is a separate performance obligationd) there are two distinct performance obligations: the wireless services and the phone