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During fiscal 2019, Aveeno Company reported Net income of $1,324.7 million and paid dividends of $450.7 million. Which of the following describes how these transactions
During fiscal 2019, Aveeno Company reported Net income of $1,324.7 million and paid dividends of $450.7 million. Which of the following describes how these transactions would affect Aveenos equity accounts? (in millions)
Increase earned capital by $874.0 | ||
Decrease contributed capital by $450.7 and increase earned capital by $1,324.7 | ||
Increase contributed capital by $874.0 | ||
Increase contributed capital by $1,324.7 and decrease earned capital by $450.7 |
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