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Creative Marketing Corporation reported the following stockholders' equity at December 31 (adapted and in millions): During the next year, Creative Marketing purchased treasury stock at
Creative Marketing Corporation reported the following stockholders' equity at December 31 (adapted and in millions): During the next year, Creative Marketing purchased treasury stock at a cost of $26 million and resold treasury stock for $15 million (this treasury stock had cost Creative Marketing $6 million). Requirements 1. Record the purchase and resale of Creative Marketing's treasury stock. 2. Overall, how much did stockholders' equity increase or decrease as a result of the two treasury-stock transactions
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