As of December 31, 2021, Bennacer Corporation reported the following: Cash dividends payable Treasury stock Paid-in capital-share repurchase Common stock and other paid-in capital accounts Retained earnings $ 30,000 700,000 30,000 5,000,000 4,000,000 During 2022, half of the treasury stock was resold for $260,000; net income was $700,000; cash dividends declared were $1,600,000; and stock dividends declared were $600,000. The 2022 sale of half of the treasury stock would: Multiple Choice Reduce retained earnings by $90,000 Increase total shareholders' equity by $350,000 Reduce retained earnings by $60,000