16-21 thank u

16. The ending retained earnings balance of Lambert Inc, increased by $1.5 million from the beginning of the year. The company's net income for the year was $3.5 million. What amount of dividends did Lambert Inc declare and pay? (see Statement of Stockholders Equity on 4 financial statement sheet) 17. Give one reason that a company might repurchase their own stock (Treasury Stock). 18. The two principle components of stockholders' equity are: (see Statement of Stockholders' Equity) a. Common stock and retained earnings. b. Net income and Common stock c. Assets and Retained Earnings d. Stockholders'Equity and Property, Plant and quipment 19, Panhandle Corporation was organized on January 3, 2017. The firm was authorized to issue 100,000 shares of SS par common stock. During 20175 they had the following transactions: a. Issued 30,000 shares of common stock at $7 per share b. Issued 20,000 shares of common stock at $8 per share c. Reported a net income of $100,000 d. Paid dividends of $50,000. Calculate the following (Pages 577-578) A. Dollar amount in Common Stock B. Dollar amount in Additional Paid in Capital C. Dollar amount in Retained Earnings 20. Northwest Clothing Supply has 3,000 shares of common stock outstanding. Please make the proper entries to record their payment of dividends. If no entry, write "No Entry 1-Dec Declares a cash dividend of $1 per share to all shareholders of record on on December 15th. 15-Dec Date of record 31-Dec Pays the cash dividend declared on December 1 21. Indicate what the effect is on the accounting equation- increase (, decrease (D), or no effect (NE) for the following: Total Total Assets Total Liabilities Issue common Stock Purchase treasury stock Declare cash dividend Pay cash dividend