As of December 31, 2021, Bennacer Corporation reported the following: Cash dividends payable Treasury stock Paid-in capital-care repurchase Common stock and other paid-in capital accounts Retained earnings $ 37,000 770,000 37,000 5,700,000 4,700,000 During 2022, half of the treasury stock was resold for $24.000; net income was $770,000 cash dividends declared were $1,670,000; and stock dividends declared were $670,000. The 2022 sale of half of the treasury stock wold: Multiple Choice increase total shareholders' equity by $395.000 Reduce retained earnings by $74,000 Reduce retained Oo oo Reduce retained earnings by $11,000 Reduce income before tax by $11,000