Item$9$

$1\mathrm{.}5$points

Time Remaining $37$ minutes $19$ seconds

$00$:$37$:$19$

Item $9$

Time Remaining $37$ minutes $19$ seconds

$00$:$37$:$19$

Motorsports Company retires shares it buys back. In its first share repurchase transaction, Motorsports purchased stock for more than the price at which the stock was originally issued. What is the effect of the purchase of the stock on each of the following?

$$Retained earningsPaid$-$in capitala.decreasedecreaseb.decreaseno effectc.no effectno effectd.no effectincrease

Multiple Choice

Option a

Option b

Option c

Option d