Below is the common equity section (in millions) of AAA Indu…
Below is the common equity section (in millions) of AAA Industries’ last two year-end balance sheets: 2022 2021 Common stock $2,000 $2,000 Retained earnings $2,340 $2,000 Total common equity $4,340 $4,000 The company has never paid a dividend to its common stockholders. Which of the following statements is CORRECT?