Which of the following is a contingent liability for Granger Enterprises? a. Granger estimates it will probably have to pay $200,000 to the Environment Protection Agency for a gas tank leak at a service station it owns b. Granger has a line of with a local bank for $250,000 with investment property serving as collateral c. Granger owes the city of Lexington $3,000.00 for a utility bill d. B. Granger has $600,000 Note outstanding to Citizens Savings Bank, TellCom has 140,000 shares of $35 par value common stock outstanding. On April 8, 2020 the company declared a 55% stock dividend. The current market value of the stock was $62 per common share. The company issued the shares of stock to stockholders on June 1, 2020. On June 1, the journal entry should include which of the following: a. A debit to Stock Dividends Distributable for $4,774,000 b. A credit to Stock Dividends Distributable for $4,774,000 c. A debit to Stock Dividends Distributable for $2,695,000 d. A debit to Retained Earnings for $2,695,000 33. Bentley Co. issued 25,000 shares of common stock for $16 cash per share on March 1st. Then, on September 30th, it repurchased 8,000 of these common shares to hold as treasury stock at $20 per share. The net effect on the financial statements from both transactions includes: a. Liabilities increase by $240,000 Stockholder's equity increases by $240,000 c. Stockholder's equity decreases by $400,000 d. Assets increase by $400,000