Question: In 2 0 2 1 , Winn, Inc., issued $ 1 par value common stock for $ 3 5 per share. No other common stock

In 2021, Winn, Inc., issued $1 par value common stock for $35 per share. No other common stock transactions occurred until July 31,2023, when Winn acquired some of the issued shares for $30 per share and retired them. Which of the following statements correctly states an effect of this acquisition and retirement?
2022 net income is increased.
Additional paid-in capital is decreased.
2022 net income is decreased.
Retained earnings is increased.

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