As of December 31, 2021, Warner Corporation reported the following: Cash dividends payable$39,000 Treasury stock 790,000 Paid-in capital—share repurchase 39,000 Common stock and other paid-in capital accounts 5,900,000 Retained earnings 4,900,000 During 2022, half of the treasury stock was resold for $278,000; net income was $790,000; cash dividends declared were $1,690,000; and stock dividends declared were $690,000. The 2022 sale of half of the treasury stock would: Multiple Choice Reduce income before tax by $117,000 Increase total shareholders' equity by $395,000 Reduce retained earnings by $117,000 Reduce retained earnings by $78,000

In 2018, laureen is currently single. she paid $2,800 of qualified tuition and related expenses for each of her twin daughters sheri and meri to attend state university as freshmen ($2,800 each for a total of $5,600). sheri and meri qualify as laureen’s dependents. laureen also paid $1,900 for her son ryan’s (also laureen’s dependent) tuition and related expenses to attend his junior year at state university. finally, laureen paid $1,200 for herself to attend seminars at a community college to her improve her job skills.what is the maximum amount of education credits laureen can claim for these expenditures in each of the following alternative scenarios? a. laureen's agi is $45,000.b. laureen’s agi is $95,000.c. laureen’s agi is $45,000 and laureen paid $12,000 (not $1,900) for ryan to attend graduate school (i.e, his fifth year, not his junior year).