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On April 10, 2013, Amelia, Inc., purchased 525 shares of its own common stock in the market for $27 per share. On September 28, 2013,
On April 10, 2013, Amelia, Inc., purchased 525 shares of its own common stock in the market for $27 per share. On September 28, 2013, the company sold 315 of these shares in the open market at a price of $28 per share. Required: Use the horizontal model to show the effects on Amelia, Inc.'s financial statements for the following: a. The purchase of the treasury stock on April 10, 2013. Balance Sheet Income Statement Assets Liabilities + Stockholders' Equity Net income Revenues Expenses + b. The sale of the treasury stock on September 28, 2013. Balance Sheet Income Statement Assets Liabilities + Stockholders' Equity Net income Revenues Expenses = + +
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