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Suppose that during January 2 0 2 5 , Old Navy paid a cash dividend of $ 1 9 8 0 0 0 0 .

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Suppose that during January 2025, Old Navy paid a cash dividend of $1980000. This transaction
reduces net income by $1980000.
increases stockholders' equity by $1980000.
increases expenses by $1980000.
reduces stockholders' equity by $1980000.
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