3. Dividends are declared out of a. Capital Stock b. Paid-in Capital in Excess of Par. c. Retained Earnings. d. Treasury Stock Retained earnings is a. always equal to the amou operations equal to the amount of cash that the corporation has gener generated from b. a part of the paid-in capital of the corporation a part of the stockholders' claim on the total assets of the corporation. d. closed at the end of each accounting period 5. When stock is issued for legal costs incu Stock is issued for legal costs incurred in forming a corporation, the transaction recorded by debiting Organization Expense for the a. stated value of the stock. b. par value of the stock. C market value of the stock. d. book value of the stock