On December 1, 2020, Dublin Ltd

Multiple Choice

On December 1, 2020, Dublin Ltd. exchanged 10,000 of its no par value common shares (being held in the treasury) for a used machine. The treasury shares were acquired by Dublin for $ 35 per share. On the date of the exchange, the common shares, which had originally been issued at $ 30 per share, had a market value of $ 55 per share. As a result of this exchange, Dublin's total shareholders' equity will increase by

A) $ 300,000.
B) $ 350,000.
C) $ 400,000.
D) $ 550,000.