SSS Corporation has 200 shares of outstanding stock, which are owned by three unrelated individuals as follows: A owns 120 shares, B owns 60 shares, and C owns 20 shares.During the year SSS redeemed 50 percent of A's shares for $60,000.SSS had E&P before the redemption of $100,000.The E&P of SSS will decrease by
A)$50,000
B)$60,000
C)$20,000
D)$30,000
E)None of the above

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The Answer of SSS Corporation has 200 shares of outstanding stock, which are owned by three unrelated individuals as follows: A owns 120 shares, B owns 60 shares, and C owns 20 shares.During the year SSS redeemed 50 percent of A's shares for $60,000.SSS had E&P before the redemption of $100,000.The E&P of SSS will decrease by
A)$50,000
B)$60,000
C)$20,000
D)$30,000
E)None of the above

SSS Corporation Has 200 Shares of Outstanding Stock, Which Are