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In 2016, Black Corporation repurchased some of its own shares of common stock.

What is the impact on total contributed capital and total shareholders’ equity?

A

Total contributed capital does not change, but total shareholders’ equity increases.

B

Total contributed capital does not change, but total shareholders’ equity decreases.

C

Total contributed capital increases, but total shareholders’ equity does not change.

D

Total contributed capital decreases, but total shareholders’ equity does not change.

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