21. 1. A company repurchased shares of its common stock for $20,800. The 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 repurchase of companys common stock shares? Multiple Choice Stockholders' equity increases $16,500. Net income decreases by $9,700. Net income increases by $9,700. Stockholders' equity decreases $20,800.