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Question 28 (2.5 points) The following information is used for THREE questions. (3 of 3) Patterson Corporation had 250,000 shares of $10 par-value common stock
Question 28 (2.5 points) The following information is used for THREE questions. (3 of 3) 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: Have shares available for employee compensation. Increase the amount of equity on their balance sheet. Maintain market value for the company stock. O Reduce outstanding shares
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