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[The following information applies to the questions displayed below.] On April 10, 2016,...

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Accounting

[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 = Liabilities + Stockholders Equity Net Income = Revenues Expenses
= + =

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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