Cornerstone Exercise 10-29 (Algorithmic) Accounting for Treasury Stock On January 1, 2019, Tommyboy Corporation repurchases 12,800 shares of its outstanding common stock for $26 per share, On May 1, 2019, Tommyboy 9,500 shares of treasury stock for $17 per share. On October 1, 2019, Tommyboy sells 1,500 shares of its treasury stock for $44 per share. Required: 1. Prepare the journal entries to record these transactions. 2019Jan,1 (Record purchase of treasury shares) Oct. 1 (Record reissue of treasury shares) 2. How will thace trancactione affoct Tommwhou'e Znto income statement? 3 more Check My Work uses temaining 2. How will these transactions affect Tommyboy's 2019 income statement? The income statement is by treasury stock transactions because the income statement 3 more Check My Work uses remaining