M N a. Corporations often buy back their own stock A B. C. D. E. To avoid a hostile take-over. To have shares available for a merger or acquisition, To have shares available for employee compensation, To maintain market value for the company stock. All of the options are reasons for corporations buying back their own 9. A company declared a $0.55 per share cash dividend. The company has 200,000 shares authorized, 190,000 shares issued, and 8,000 shares in treasury stock. The journal entry to record the payment of the dividend is: A B. c. D Debit Retained Earnings $104,500; credit Common Dividends Payable $104,500 Debit Common Dividends Payable $104,500, credit Cash $104,500. Debit Retained Earnings $100,100; credit Common Dividends Payable $100,100. Debit Common Dividends Payable $100,100; credit Cash $100,100. Debit Retained Earnings $110,000; credit Common Dividends Payable $110,000. E