QUESTION 12 A corporation purchases 70,000 shares of its own $37 par common stock for $40 per share, recording it at cost. Calculate the effect to total shareholders' equity as a result of this transaction. Note: A decrease to total shareholders' equity should be indicated by a negative number while an increase should be indicated by a positive number. QUESTION 13 Jackson Company is a publicly held corporation whose $1 par value stock is actively traded at $43 per share. The company issued 4,000 shares of stock to acquire Calculate the amount that the land will be valued at when recording this transaction. land recently advertised at $300,000