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What is the effect of each of the transactions on the item

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Problem 1: A company had beginning retained earnings of $60,000. During the year the company had net income of $20,000, and paid dividends of $7,500. On the other hand, the company repurchased 1,000 shares of its stock for $45 during the period. What is the effect of each of these transactions on the items shown below?

Select one:

a. decrease Retained earnings; decrease Total shareholders' equity
b. increase Retained earnings; decrease Total shareholders' equity
c. increase Retained earnings; increase Total shareholders' equity
d. dont know
e. decrease Retained earnings; increase Total shareholders' equity

Reference no: EM132778486

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