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In January 2021, Simple Inc. was incorporated and issued 10,000 shares of its $10 par value common stock for $15 per share. In November 2021,
In January 2021, Simple Inc. was incorporated and issued 10,000 shares of its $10 par value common stock for $15 per share. In November 2021, the corporation reacquired 1,000 shares of its outstanding stock for $12 per share.
a. The acquisition of these treasury shares in November ________ total stockholders' equity.
Option 1: increased
Option 2: decreased
Option 3: did not change
b. Assuming no other stock related transactions, what was the total common shares outstanding on December 1?
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