Assessing Financial Statement Effects from a Subsidiary Stock Issuance Sykora Company owns 80% of Walton Company. Information reported by Sykora and Walton as of the current year end follows. Sykora Company Shares owned of Walton 80,000 Book value of investment in Walton $1,600,000 Walton Company Shares outstanding Book value of equity Book value per share 100,000 $2,000,000 $20 Assume Walton issues 60,000 additional shares of previously authorized but unissued common stock solely to outside investors (none to Sykora) for $29 cash per share. Indicate the financial statement effects of this stock issuance on Sykora using the financial statement effects template. Use negative signs with answers, if appropriate. Balance Sheet Noncash Transaction Cash Asset + Assets Sales of shares of stock by Walton Income Statement Liabilities + 0 Contrib. Captial 400,000 x + Earned Capital Revenues Expenses Net income 0 0 0 0