Business, 31.05.2021 14:40 stastnylindsey

In 2009, Winn, Inc. issued $1 par value common stock for $35 per share. No other common stock transactions occurred until July 31, 2011, when Winn acquired some of the issued shares for $32 per share and retired them. Which of the following statements correctly states an effect of this acquisition and retirement? a. 2018 net income is decreased.
b. Additional paid-in capital is decreased.
c. 2018 net income is increased.
d. Retained earnings is increased.

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In 2009, Winn, Inc. issued $1 par value common stock for $35 per share. No other common stock transa...

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