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Patterson Corporation had 250,000 shares of $10 par-value common stock outstanding on January 1, 2020. On March 15, 2020, the firm purchased 50,000 of its
Patterson Corporation had 250,000 shares of $10 par-value common stock outstanding on January 1, 2020. On March 15, 2020, the firm purchased 50,000 of its outstanding shares for $21 per share. On April 26, 2020, it reissued 10,000 shares at $25 per share. Patterson Corporation may have bought back their own stock on March 15 for any of the following reasons except to: Reduce outstanding shares. O Maintain market value for the company stock. Have shares available for employee compensation. Increase the amount of equity on their balance sheet
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