Quinn had one hundred shares of Compact common stock that she had purchased for $21 per share. She sold the shares to Randy for $28 per share. On Compact’s books this would

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Quinn had one hundred shares of Compact common stock that she had purchased for $21 per share. She sold the shares to Randy for $28 per share. On Compact’s books this would

a. be shown ass an increase in stockholders’ equity of $2,800
b. be shown ass an increase in stockholders’ equity of $700
c. be shown ass an increase in retained earnings of $700
d. be shown ass an increase to additional paid in capital of $700
e. not be shown at all

Answer: e. not be shown at all

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