! Required information [The following information applies to the questions displayed below.) On January 1, 2019, Metco Inc. reported 287,000 shares of $6 par value common stock as being issued and outstanding. On March 24, 2019, Metco Inc. purchased for its treasury 2,500 shares of its common stock at a price of $35.00 per share. On August 19, 2019, 580 of these treasury shares were sold for $40.50 per share. Metco's directors declared cash dividends of $0.90 per share during the second quarter and again during the fourth quarter, payable on June 30, 2019, and December 31, 2019, respectively. A 1% stock dividend was issued at the end of the year. There were no other transactions affecting common stock during the year. C-1. Use the horizontal model for the sale of the treasury stock on August 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 + Net Income = Cash Stockholders' Equity + Treasury stock +: Additional paid-in capital II =