Required Information Problem 8-25 (Algo) Treasury stock transactions LO 6 [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, 300 of these shares were sold in the open market at a price of $20.80 per share. There were 35,000 shares of Docker common stock outstanding prior to the May 4 purchase of treasury stock. A $0.25 per share cash dividend on the common stock was declared and paid on June 15, 2019. Problem 8-25 (Algo) Part 1 - Horizontal Model 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.) Assets Balance Sheet Liabilities Stockholders' Equity Net Income = 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.) Assets Balance Sheet Liabilities Stockholders' Equity Income Statement Revenues Expenses Income Statement Net Income Revenues Expenses