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Corporation is owned equally by Brother and Sister, each of whom hold 100 shares in...

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Accounting

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Corporation is owned equally by Brother and Sister, each of whom hold 100 shares in the company. Corporation redeems 50 of Sister's shares on December 31 , year 1 , for o Corporation as a result of the stock redemption? A reduction of $50,000 in E&P as a result of the exchange. A reduction of $80,000 in E&P as a result of the exchange. A reduction of $40,000 in E&P as a result of the exchange. No reduction in E\&P as a result of the exchange

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