Business, 04.01.2021 20:10, clarkster112679

A company purchased treasury stock for $20,800. The treasury stock was initially issued for $16,500 and had a $6,800 par value. Which of the following statements correctly describes the effects of the treasury stock purchase?A. Stockholders' equity increases $16,500.B. Net income decreases by $9,700.C. Stockholders' equity decreases $20,800.D. Net income increases by $9,700.

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A company purchased treasury stock for $20,800. The treasury stock was initially issued for $16,500...