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Required information E118 (Algo) Recording Treasury'Stock Transactions and Analyzing Their Impact (LO 11-2, LO 11-3) The following information applies to the questions displioyed below] The following selected transactions occurred for Corner Corporation: Febraty 1 Nurchased 524 shares of the conpany's oun connon stock at $32 cash per sharei the stock is now held in treasury, Juty 15 Issued 16 ef of the shares purchesed on February 1 for 542 cash per shore. Septenter 1 issued 120 hore of the shares purchased on February 1 for $27 cash per share. E11-8 (Algo) Part 1 Requirec: 1. Indicate the account, amount, and direction of the effect for the above transections. (Enter any decreases to account balantes with e minus sign.) Required information E11-8 (Algo) Recording Treasury Stock Transactions and Analyzing Their Impact [LO 11-2, LO 11-3] [The following information applies to the questions displayed below.] The following selected transactions occurred for Corner Corporation: February 1 Purchased 520 shares of the company's own comnon stock at $32 cash per share; the stock is now held in treasury. Juty 15 issued 160 of the shares purchased on February 1 for $42 cash per share. September 1 Issued 120 more of the shares purchased on February 1 for $27 cash per share. E11-8 (Algo) Part 3 3. What impact does the purchase of treasury stock have on dividends paid? Required information E11-8 (Algo) Recording Treasury'Stock Transactions and Analyzing Their Impact [LO 11-2, LO 11-3] The following information applies to the questions displayed below] The following selected transactions occurred for Corner Corporation: February 1 Purchased 520 shares of the company's ewn connon stock at $32 cash per share; the stock is now held in treasury. Juty 15 issued 160 of the shares purchased on February 1 for $42 cash per share. Septenber 1 Issued 120 bore of the shares purchased on February 1 for $27 cash per share. E11-8 (Algo) Part 4 4. What impact does the reissuance of treasury stock for an amount higher than the purchase price have on net income

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