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As of December 31, 2018, Warner Corporation reported the following: Dividends payable $ 33,000 Treasury stock 730,000 Paid-in capitalshare repurchase 33,000 Other paid-in capital accounts
As of December 31, 2018, Warner Corporation reported the following: Dividends payable $ 33,000 Treasury stock 730,000 Paid-in capitalshare repurchase 33,000 Other paid-in capital accounts 5,300,000 Retained earnings 4,300,000 During 2019, half of the treasury stock was resold for $266,000; net income was $730,000; cash dividends declared were $1,630,000; and stock dividends declared were $630,000. The 2019 sale of half of the treasury stock would:
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