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In January 2020, Justin Corporation, a newly formed company, issued 10,000 shares of its $10...

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Accounting

In January 2020, Justin Corporation, a newly formed company, issued 10,000 shares of its $10 par common stock for $15 per share. On July 1, 2020, Justin Corporation reacquired 1,000 shares of its outstanding stock for $17 per share. The acquisition of these treasury shares

a. increased total stockholders' equity

b. decreased the number of issued shares

c. decreased total stockholders' equity

d. did not change total stockholders' equity

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