A restriction of retained earnings is most likely to be required by purchase of property, plant and equipment purchase of treasury shares payment of last maturing series of a serial bond issue funding of past service cost Which of the following statements is incorrect concerning retained earnings? Appropriated retained earnings shall be clearly distinguished from unappropriated retained earnings A deficit is a debit balance in retained earnings. A deficit in retained earnings shall be presented as an asset. When the deficit exceeds the total of the O other capital account balances, the excess is a capital deficiency