[The following information applies to the questions displayed below.] On April 10, 2016,...
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[The following information applies to the questions displayed below.]
On April 10, 2016, Amelia, Inc., purchased 800 shares of its own common stock in the market for $27 per share. On September 28, 2016, the company sold 500 of these shares in the open market at a price of $31 per share.
Balance Sheet
Income Statement
Assets
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Liabilities
+
Stockholders Equity
Net Income
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Revenues
Expenses
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+
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B.Use the horizontal model to show the effects on Amelia, Inc.s financial statements of the sale of the treasury stock on September 28, 2016. (Use amounts with + for increases and amounts with for decreases.)
Balance Sheet
Income Statement
Assets
=
Liabilities
+
Stockholders Equity
Net Income
=
Revenues
Expenses
=
+
=
=
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