12 pts D Question 3 On January 1, 2016, Mackenzie Inc. issued 400,000 shares of common stock (par value of $1/share) at a market price of $51/share. As of January 1, 2016, these are the only outstanding common shares. Total amount recorded to Common Stock upon issuance was $ Two years later on January 1, 2018, Mackenzie Inc. repurchases 50,000 shares of their common stock when the market value was $60/share. The repurchase of shares causes equity to (Increase or Decrease) by $ On December 31, 2018, Mackenzie Inc. declares and pays a cash dividend of $1/share. Retained earnings decreases by $