ACC 304 Course Great Wisdom / tutorialrank.com ACC 304 Course Great Wisdom / tutorialrank.com | Page 346

S36. In January 2012, Finley Corporation, a newly formed
company, issued 10,000 shares of its $10 par common stock for
$15 per share. On July 1, 2012, Finley Corporation reacquired
1,000 shares of its outstanding stock for $12 per share. The
acquisition of these treasury shares

a. decreased total stockholders' equity.

b. increased total stockholders' equity.

c. did not change total stockholders' equity.

d. decreased the number of issued shares.