Business, 01.06.2021 05:30 dontcareanyonemo

During 2017, half of the treasury stock was resold for $264,000; net income was $720,000; cash dividends declared were $1,620,000; and stock dividends declared were $620,000. The 2017 sale of half of the treasury stock would:
Reduce retained earnings by $96,000
Reduce retained earnings by $64,000
Increase total shareholders' equity by $360,000
Reduce income before tax by $96,000

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During 2017, half of the treasury stock was resold for $264,000; net income was $720,000; cash divid...

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