Answer Happy

As of December 31, 2021, Lenoir Corporation reported the following: Cash dividends payable Treasury stock Paid-in capital-share repurchase Common stock and other paid-in capital accounts Retained earnings $ 27,000 670,000 27,000 4,700,000 3,700,000 During 2022, half of the treasury stock was resold for $254,000; net income was $670,000, cash dividends declared were $1,570,000; and stock dividends declared were $570,000. The 2022 sale of half of the treasury stock would:
Multiple Choice O O Increase total shareholders' equity by $335,000 Reduce income before tax by $81,000 Reduce retained earnings by $54,000 Reduce retained earnings by $81,000 D