(Learning Objective 3: Accounting for the purchase and sale of treasury shares)

Genius Marketing Corporation reported the following shareholders’ equity at December 31

(adapted and in millions):

During the next year, Genius Marketing purchased treasury shares at a cost of $29 million and resold treasury shares for $8 million (this treasury share had cost Genius Marketing

$2 million). Record the purchase and resale of Genius Marketing’s treasury shares. Overall, how much did shareholders’ equity increase or decrease as a result of the two treasury share transactions?