Question: Question 1 (5 points) In 2016, Grass, Inc. issued $1 par common stock for $35 per share. No other common stock transactions occurred until July

Question 1 (5 points) In 2016, Grass, Inc. issued $1 par common stock for $35 per share. No other common stock transactions occurred until July 31, 2018, when Grass 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? A) 2018 net income is increased. OB) Retained earnings is increased. O C) Additional paid-in capital is decreased. O D) 2018 net income is decreased

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