I. ABC Inc paid $1000 of cash dividends. These dividends reduced assets and reduced retained earnings. II. XYZ Inc. has 30,000 shares authorized, 25,000 shares issued, and 15,000 shares outstanding. Thus, if no other transaction took place, then XYZ bought back (treasury stock) 10,000 shares. III. Retained earnings may or may not be cash. Similarly, net income may or may not be cash.

Is this all True or False?