Question 9 2 pts A corporation: O by paying the shareholders as outside consultants o distributes earnings to shareholders by paying dividends that are considered expenses on the corporation's income statement increases its Retained Earnings account, which is an equity account, by paying shareholders dividends O distributes earnings to shareholders by paying dividends that reduce corporate equity Question 10 2 pts The Common Stock account: Is typically used by partnerships and corporations as well as sole proprietorships Is an equity account that represents equity of the corporation, typically the initial investment of the shareholders) Is an asset account based upon the investment of the corporation's shareholders