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The balance sheet for Tempest, Inc., is shown here in market value terms. There are 19,000 shares of stock outstanding Market Value Balance Sheet $120,000

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The balance sheet for Tempest, Inc., is shown here in market value terms. There are 19,000 shares of stock outstanding Market Value Balance Sheet $120,000 476,600 Equity Cash $596,600 Fixed assets $596,600 $596,600 Total Total In lieu of a dividend of $1.15, the company has announced it is going to repurchase $21,850 worth of stock. What effect will this transaction have on the equity of the firm? (Do not round intermediate calculations. Input the amount as positive value.) shareholders' equity by Will increase reduce

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