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Required information [The following information applies to the questions displayed below) On April 10, 2019, Amelia Inc, purchased 250 shares of its own common stock

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Required information [The following information applies to the questions displayed below) On April 10, 2019, Amelia Inc, purchased 250 shares of its own common stock in the market for $14 per share. On September 28, 2019, the company sold 150 of these shares in the open market at a price of $17 per share. Required: a. Use the horizontal model to show the effects on Amelia Inc's financial statements of the purchase of the treasury stock on April 10, 2019. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect.) Book Balance Sheet Lishloties Net Income Stockholders' Equity Assets Print Reference b. Use the horizontal model to show the effects on Amelia Inc.'s financial statements of the sale of the treasury stock on September 28 2019. Indicate the financial statement effect (Enter decreases with a minus sign to indicate a negative financial statement effect) Balance Sheet Liabilities Net Income Stockholders & Pray 10 18 Next >

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