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The Basu Group reacquired 4 million of its shares at $66 per share as treasury stock. Last year for the first time, Basu sold treasury shares at $67 per share If Basu now sells the remaining 2 million treasury shares at $63 per share, by what amount will retained earings decline? Note: Enter your answer in millions (ie., 10,000,000 should be entered as 10). million

The Basu Group reacquired 4 million of its shares at $66 per share as treasury stock. Last year for the first time, Basu sold treasury shares at $67 per share If Basu now sells the remaining 2 million treasury shares at $63 per share, by what amount will retained earings decline? Note: Enter your answer in millions (ie., 10,000,000 should be entered as 10). million

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The Basu Group reacquired 4 million of its shares at $66 per share as treasury stock. Last year for the first time, Basu sold 2 million treasury shares at $67 per share If Basu now sells the remaining 2 million treasury shares at $63 per share, by what amount will retained earings decline? Note: Enter your answer in millions (ie., 10,000,000 should be entered as 10). million
Transcribed Image Text:The Basu Group reacquired 4 million of its shares at $66 per share as treasury stock. Last year for the first time, Basu sold 2 million treasury shares at $67 per share If Basu now sells the remaining 2 million treasury shares at $63 per share, by what amount will retained earings decline? Note: Enter your answer in millions (ie., 10,000,000 should be entered as 10). million
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