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Anson Company: Impact on net income, RE, and SE On January 1, 2019, Anson Company started the year with a $300,000 credit balance in Retained
Anson Company: Impact on net income, RE, and SE On January 1, 2019, Anson Company started the year with a $300,000 credit balance in Retained Earnings, a $50,000 balance in Common Stock, and a $300,000 balance in Additional Paid-in Capital. During 2019, the company earned revenues of $95,000, incurred wages expense of $28,000, incurred tax expense of $12,000, declared a dividend of $15,000, and issued 900 additional shares of stock (par value of $1 per share) for $10,000. Which of the following statements are true? Check all that apply. Check All That Apply Wages Expense reduces Net Income, and also reduces Retained Earnings and Stockholders' Equity. Income Tax Expense decreases Net Income, but does not affect Stockholders' Equity. Dividends declared decreases Net Income, and also reduces Retained Earnings and Stockholders' Equity. A stock issuance increases Net Income by increasing Revenues. A stock issuance increases Stockholder's Equity and Liabilities. Earning revenues causes increases in Common Stock, APIC, and Retained Earnings by increasing Net Income
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