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A company repurchased shares of its common stock for $19,000. The stock was initially issued for $12,000 had a $5,000 par value. Which of the

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A company repurchased shares of its common stock for $19,000. The stock was initially issued for $12,000 had a $5,000 par value. Which of the following statements correctly describes the effects of the repurchase company's common stock shares? Net income decreases by $7000. Stockholders' equity decreases $19,000. Net income increases by $7000. Stockholders' equity increases $12,000

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