Gifted Marketing Corporation reported the following stockholders' equity at December 31 (adapted and ins). (Click the icon to view the data) During the next year, Gifted purchased treasury stock at a cost of $21 million and resold treasury stock for $7 million (this treasury stock had cost the company $5 million). Read the requirements. Requirement 1. Record the purchase and resale of Gifted's treasury stock (Record debits first, then credits. Exclude explanations from any journal entries. Enter amounts in millions as provided to you in the problem statement) First, record the purchase of the treasury stock. Date Journal Entry Accounts Requirements Debit Millions Credit 1. Record the purchase and resale of Gifted's treasury stock. 2. Overall, how much did stockholders' equity increase or decrease from the two transactions? Data table Common stock Additional paid-in capital Retained earnings Treasury stock Total stockholders' equity Print $ $ Done Clear all 281 255 2.190 (641) 2 085 X Check answer

Read the recistuments pichein staterisot? Fint, record the purchase of the treasury slock Data table Requirements tightinistions? Hed Marketing Corporation reported the foliowing stochholders' equity at December 31 (adapled and in millons). A. (Click the icon to wow tho data) pad the requirements. roblens stitoment) int, record the purchase of the troasury stock Data table Requirements 1. Record the purchase and rosale of Gifeds teanury stock Wove trmiactions