Which statement is incorrect? Dividends represent a distribution by a corporation to its stockholders. The Dividends account has a normal debit balance. Dividends are shown on the income statement. Dividends reduce stockholders' equity, thus the Dividends account increases on the At September 1, 2017, Oriole Company reported Retained Earnings of $473760. During the month, Oriole generated revenues of $67200, incurred expenses of $40320 purchased equipment for $16800 and paid dividends of $6720. What is the balance in Retained Earnings at September 30, 2017? $477120 credit $26880 credit $473760 debit $493920 credit