A) Determine the effect of the following transactions on the financial statement components identified. Code your answers as follows:

A: If the transaction results in an increase in the financial statement component.

B: If the transaction results in a decrease in the financial statement component.

C. If the transaction does not affect the financial statement component.

Transaction 1: Common stock was sold at a price in excess of par value. Net income _____ Total assets _____ Stockholders' equity _____

Transaction 2: Treasury stock was purchased using cash. Net income _____ Total assets _____ Stockholders' equity _____

Transaction 3: Treasury stock was resold for cash at a price less than the treasury stock's cost. Net income _____ Total assets _____ Stockholders' equity _____

Transaction 4: Treasury stock was resold for cash at a price greater than the treasury stock's cost. Net income _____ Total assets _____ Stockholders' equity _____