! 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 800 shares of its own common stock in the market at a price of $17.80 per share. On September 19, 2019, 400 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 $0.35 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.) Balance Sheet Liabilities Assets = Stockholders' Equity Net Income = Income Statement Revenues - 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 Assets Liabilities Stockholders' Equity Net Income = = + + = Income Statement Revenues 1 Expenses c. Use the horizontal model on Docker's financial statements for the declaration and payment of the sale of the treasury stock on September 19, 2019. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect.) Balance Sheet Assets II Liabilities + Stockholders' Equity Net Income + = + + = Income Statement Revenues Expenses