During fiscal 2021, Dee's Donuts reported Net income of $865.3 million and paid dividends of $430.9 million. Which of the following describes how these transactions would affect Dees Donuts' equity accounts? (in millions)

Group of answer choices

Increase retained earnings by $865.3 and decrease contributed capital by $430.9

Decrease retained earnings by $430.9 and increase contributed capital by $865.3

Increase contributed capital by $434.4

Increase retained earnings by $434.4

None of the above