Current Attempt in Progress A corporation purchases 24000 shares of its own $20 par common stock for $25 per share, recording it at cost. What will be the effect on total stockholders' equity? Decrease by $120000. Decrease by $480000. O Increase by $600000. O Decrease by $600000.

A corporation purchases 24000 shares of its own $20 par common stock for $25 per share, recording it at cost. What will be the effect on total stockholders' cquity? Decrease by $120000 Decrease by $480000 Increase by $600000. Decrease by $600000