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Treasury stock was acquired for cash at a price in excess of its par value. the treasury stock was subsequently reissued for cash at a price in excess of its acquisition price. Assuming that the cost method of accounting for treasury stock transaction is used, what is time effect of the subsequent reissuance of the treasury stock on each of the following?
additional paid-in-capital | retained earning | total stock.equity
a. decrease decrease no effect
b. increase increase increase
c. increase no effect increase
d. no effect no effect no effect
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What would be the effect of this purchase on income before income taxes? (Leave no cells blank - be certain to select "No effect" wherever required. Omit the "tiny_mce_markerquot; sign in your response.)
Arntson Corporation's net income last year was $7,975,000. The dividend on common stock was $8.20 per share and the dividend on preferred stock was $3.50 per share. The market price of common stock at the end of the year was $59.10 per share.
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