A Company Purchased 1,000 Shares of Treasury Stock for $38,000

A company purchased 1,000 shares of treasury stock for $38,000 cash; the treasury stock was initially issued for $24,000 and had a $9,000 par value.Which of the following statements incorrectly describes the effect of treasury stock purchase?

A) Net income is unchanged.
B) Earnings per share increases.
C) Total assets remain the same.
D) Stockholders' equity decreases.