The authorized share capital of the Alfred Cake Company is 160,000 shares. Currently 28,000 shares are issued and outstanding. The equity is currently shown in the company's books as follows: Common stock Retained earnings Common equity $140,000 38,000 178,000 What would happen to the company's books if instead it bought back 1,160 shares at $7.72 per share? The average issue price of these shares was $7.72. (Round your answers to 1 decimal place.) Common Shares Retained Earnings Net Common Equity es es es