Cinders Marketing Corporation reported the following stockholders' equity at December 31 (adapted and in millions): Common stock....................................$

Question:

Cinders Marketing reported the following stockholders' equity at December 31 (adapted and in millions):
Common stock....................................$ 281
Additional paid-in capital.........................275
Retained earnings.................................2,129
Treasury stock....................................(611)
Total stockholders equity......................$2,074
During the next year. Cinders Marketing purchased treasury stock at a cost of $28 million and resold treasury stock for $9 million (this treasury stock had cost Cinders Marketing $3 million). Record the purchase and resale of Cinders Marketing's treasury stock. Overall, how much did stockholders' equity increase or decrease as a result of the two treasury-stock transactions?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...