When Wisconsin Corporation was formed on January 1, the corporate charter provided for 109,300 shares of $12 par value common stock. During its first month of operation, the corporation issued 8,750 shares of stock at a price of $29 per share. The entry to record the above transaction would include a Oa. credit to Paid-In Capital in Excess of Par-Common Stock for $148,750 Ob. credit to Common Stock for $253,750 Oc. debit to Cash for $105,000 Od. debit to Common Stock for $109,300 A corporation purchases 4,972 shares of its own $3 par common stock for $27 per share, recording it at cost. What will be the effect on total stockholders' equity? a. decrease by $134,244 b. increase by $119,328 Oc. decrease by $119,328 Od. increase by $134,244 Dayton Corporation began the current year with a retained earnings balance of $10,990. During the year, the company corrected an error made in the prior year, which was a failure to record a depreciation expense of $3,616 on equipment. Also, during the current year, the company earned net income of $16,027 and declared cash dividends of $4,374. Compute the year-end retained earnings balance Oa. $35,007 b. $10,990 Oc. $22,643 Od. $19,027