On January $30,$ Pier$5$ Inc. issued $500$ shares of $$1$ par common stock for $$15$ per share. On June $30,$ Pier$5$ Inc. reacquired $50$ shares of common stock at $$12$ per share and immediately retired the shares. On December $15,$ Pier$5$ Inc. reacquired $100$ shares of common stock at $$17$ per share and immediately retired the shares. the amount did retained earnings decrease as a result of the reacquisition of common stock on December $15$ 

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Answer To calculate the decrease in retained earnings r... View the full answer