Question $2$

$1pts$

On March $20,2024,$ Reddit, Inc. sold approximately $15$ million shares of common stock to outside investors for $$34$ per share. What was effect of this transaction on Reddit's balance sheet?

Shareholders' deficit decreased by $$510$ million and contra$-$assets decreased by $$510$ million

Cash increased by $$510$ million and long$-$term assets increased by $$510$ million

Common stock revenue increased by $$510$ million and shareholders' equity increased by $$510$ million

Cash increased by $$510$ million and shareholders' equity increased by $$510$ million