eBook Print Question 4 Not yet answered Marked out of 10.00 Flag question Identifying and Analyzing Financial Statement Effects of Stock Repurchase and Dividends Quinn Company has outstanding 17,500 shares of $10 par value common stock that was issued for an average of $24 per share. It also has $359,800 of retained earnings. The company repurchases and retires 1,400 shares at $32 per share. Near the current year-end, the company declares and pays a cash dividend of $1.80 per share. Use the financial statement effects template to record (a) the share repurchase and (b) the dividend transaction. Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction. Note: Indicate a decrease in an account category by including a negative sign with the amount. Balance Sheet Income Cash Asset Contrib. Capital Noncash Assets Liabilities Earned Capital Revenues Transaction (a) Share repurchase . Common stock . (b) Dividend payment