The t ransactions listed below relate to Wainwright Inc. You are to assume that on the date on which each of the transactions occurred,

the corporation's accounts showed only common stock $($$$100$ par$)$ outstanding, a current ratio of $2\mathrm{.}7$:$1,$ and a substant ial net income

for t he year to date $($before giving effect to the transaction concerned$).$ On that date, the book value per share of stock was $$151\mathrm{.}53.$

Each numbered transaction is to be considered completely independent of t he others, and its related answer should be based on the

effect$($s$)$ of that transaction alone. Assume that all numbered t ransactions occurred during $2026$ and that the amount involved in each

case is sufficiently material to distort reported net income if improperly included in t he determination of net income. Assume further

that each t ransaction was recorded in accordance with generally accepted account ing principles and, where applicable, in conformity

with the all$-$inclusive concept of the income statement.

Select as many options as you deem appropriate to reflect the effect$($s$)$ of each t ransaction as of the date of the transaction.

The corporation wrote off all of the unamortized discount applicable to bonds that it refinanced in $2026.$

D Increased the corporation's $2026$ net income.

D Decreased the corporation's $2026$ net income.

D Increased the corporation's total retained earnings directly $($i$.$e$.,$ not via net income$).$

D Decreased t he corporation's total retained earnings directly.

D Increased the corporation's current ratio.

D Decreased the corporation's current ratio.

D Increased each stockholder $\text{'}$s proportionate share of total stockholders' equity.

D Decreased each stockholder's proportionate share of total stockholders' equity.

D Increased each stockholder $\text{'}$s equity per share of stock $($book value$).$

D Decreased each stockholder's equity per share of stock $($book value$).$

D Had none of the foregoing effects.

The corporation called in all its outstanding shares of stock and exchanged them for new shares on a $2-$for$-1$ basis, reducing the

par value at the sarne tirne to $$50$ per share.

D Increased the corporation's $2026$ net income.

D Decreased the corporation's $2026$ net income.

D Increased the corporation's total retained earnings directly $($i$.$e$.,$ not via net income$).$

D Decreased the corporation's total retained earnings directly.

D Increased the corporation's current ratio.

D Decreased the corporation's current ratio.

U Increased e;ich stockholder's proportion;ite share of total stockholders' equity.

D Decreased each stockholder's proportionate share of total stockholders' equity.

D Increased each stockholder's equity per share of stock $($book value$).$

D Decreased each stockholder $\text{'}$s equity per share of stock $($book value$).$

D Had none of the foregoing effects.

The corporation paid a cash dividend that had been recorded in t he accounts at time of declaration.

D Increased the corporation's $2026$ net income.

D Decreased the corporation's $2026$ net income.

D Increased the corporation's total ret ained earnings directly $($i$.$e$.,$ not via net income$).$

D Decreased the corporation's total retained earnings directly.

D Increased the corporation's current ratio.

D Decreased the corporation's current ratio.

D Increased each stockholder's propor tionate share of total stockholder s$\text{'}$ equity.

D Decreased each stockholder's proportionate share of total stockholders' equity.

D Increased each stockholder $\text{'}$s equity per share of stock $($book value$).$

D Decreased each stockholder's equity per share of stock $($book value$).$

D Had none of t he foregoing effects.

Lit igation involving Wainwright Inc. as defendant was settled in the corporation's favor, with t he plaint iff paying all court costs and

legal fees. In $2023,$ the corporation had appropriately established a special short$-$tern liability for t his court action. $($Indicate the

effect of reversing the contingency only.$)$

D Increased t he corporation's $2026$ net income.

D Decreased the corporation's $2026$ net income.

D Increased the corporation's total retained earnings directly $($i$.$e$.,$ not via net income$).$

D Decreased the corporation's t otal ret ained earnings directly.

D Increased the corporation's current ratio.

D Decreased the corporation's current ratio.

D Increased each stockholder's proportionate share of t otal stockholders' equity.

D Decreased each stockholder $\text{'}$s proportionate share of total stockholders' equity.

D Increased each stockholder's equity per share of stock $($book value$).$

D Decreased each stockholder $\text{'}$s equity per share of stock $($book value$).$

D Had none of the foregoing effects.

The corporation received a check for the proceeds of an insurance policy from t he company with which it is insured against theft

of trucks. No entries concerning t he t heft had been made previously, and the proceeds reduce but do not cover completely the

loss.

D Increased the corporation's $2026$ net income.

D Decreased the corporation's $2026$ net income.

D Increa