Part B only

Required information (The following information applies to the questions displayed below. On May 4, 2019, Docker Inc. purchased 700 shares of its own common stock in the market at a price of $18.00 per share. On September 19, 2019, 450 of these shares were sold in the open market at a price of $20.00 per share. There were 35,000 shares of Docker common stock outstanding prior to the May 4 purchase of treasury stock. A $0.35 per share cash dividend on the common stock was declared and paid on June 15, 2019. Required: a. Use the horizontal model on Docker's financial statements for the purchase of the treasury stock on May 4, 2019. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect.) Balance Sheet Liabilities Income Statement Revenues Assets Stockholders' Equity Net Income Expenses b. Use the horizontal model on Docker's financial statements for the declaration and payment of the cash dividend on June 15, 2019. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect.) Balance Sheet Liabilities Income Statement Revenues Assets Stockholders' Equity Net Income Expenses