RACE Exercise 15-07 Joe Dumars Company has outstanding 40.000 shares of $5 par common stock which had been issued at $30 per share. Joe Dumars then entered into the following transactions 1. Purchased 5,000 treasury shares at $45 per share. 2. Resold 2.000 of the treasury shares at $49 per share. 3. Resold 500 of the treasury shares at $40 per share Indicate the effect each of the three transactions has on the financial statement categories listed in the table below, assuming Joe Dumars Company uses the cost method. Stockholders Pald-in Retained Net Assets Liabilities Equity Capital Earnings Income 1. 2. 3. v LINK TO TEXT LINK TO VIDEO By accessing this Question Assistance, you will learn while you earn points based on the Point Potential policy set by your instructor. Question Attempts: 0 of 5 used