On February 22, Brett Corporation acquired 240 shares of its $4 par value common stock for $27 each. On March 15, the company resold 66 shares for $31 each. What is true of the entry for reselling the shares?

Multiple Choice

• Debit Treasury Stock $1,782
• Credit Cash $1,782
• Credit Treasury Stock $2,046
• Credit Additional Paid-in Capital $264

The ending Retained Earnings balance of Lambert Inc. increased by $2.5 million from the beginning of the year. The company's net income earned during the year is $7.5 million. What is the amount of dividends Lambert Inc. declared and paid?

Multiple Choice

• $2.5 million.
• $7.5 million.
• $5.0 million.
• $10.0 million.

Fashion, Inc. had a Retained Earnings balance of $10,000 at December 31, 2021. The company had an average income of $6,000 over the next 4 years, and an ending Retained Earnings balance of $13,000 at December 31, 2025. What was the total amount of dividends paid over the last four years?

Multiple Choice

• $20,250.
• $21,000.
• $24,000.
• $22,500.