Question $23$

During fiscal $2013,$ Stanley Black & Decker Corporation reported Net income of $$490\mathrm{.}3$ million and paid

dividends of $$307\mathrm{.}1$ million. Which of the following describes how these transactions would affect Stanley

Black and Decker's equity accounts? $($in millions$)$

Increase contributed capital by $$490\mathrm{.}3$ and decrease earned capital by $$307\mathrm{.}1$

Decrease contributed capital by $$307\mathrm{.}1$ and increase earned capital by $$490\mathrm{.}3$

Increase contributed capital by $$183\mathrm{.}2$

Increase earned capital by $$183\mathrm{.}2$

None of the above