Solved: By what amount will jennings retained earnings decline if, Accounting Basics

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By what amount will jennings retained earnings decline if

1. The Jennings Group reacquired 2 million of its shares at $70 per share as treasury stock. Last year, for the first time, Jennings sold 1 million treasury shares at $71 per share. By what amount will Jennings' retained earnings decline if it now sells the remaining 1 million treasury shares at $67 per share?

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