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Harping Corporation declared an $800,000 dividend, $200,000 of which was liquidating. How would this distribution affect Retained Earnings and Additional Paid-in Capital, respectively?

(Answer is shown with Retained Earning listed first, Additional Paid-in Capital listed second. )

a) No effect $800,000 Decrease

b) $800,000 Decrease No effect

c) $600,000 Decrease $200,000 Decrease

d) Noeffect No effect

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