11. Profits earned and not paid out as a dividend are found on the: e. Income Statement f. Retained Earnings Statement g. Balance Sheet h. Changes in Financial Position 12. All else being equal, an increase in retained earnings will result in: e. the payment of dividends to common shareholders f. an increase in the number of common shares g. an increase in the book value of common shares of the company h. a decline in the market price of the common shares