Question 21 (3 points) The balance in the retained earnings account represents O cash in the bank. the amount of cash available for dividends. accumulated revenues from all prior years of operations. O accumulated earnings that have not been distributed to stockholders. Question 22 (3 points) When will bonds sell at a discount? When the credit standing of the issuing company is not as good as other companies in a similar line of business. When the stated rate of interest is less than the yield rate of interest at the time of issue. When the stated rate of interest is more than the yield rate of interest at the time of issue. When the issuing company will be able to retire the bonds at less than face at maturity Question 23 (3 points) Catalan, Inc. issued 5,000 shares of $1 par common stock for $30 per share. In addition to the increase in cash, what effect does this transaction have on Catalan's accounting equation? Common stock increases $5,000 and Retained earnings increases $145,000. Common stock increases $5,000 and Additional Paid-in capital-Common Stock increases $145,000. Common stock increases $150,000. Common stock increases $5,000 and the Gain on stock issuance increases $145,000