Required information (The following information applies to the questions displayed below.) The following selected transactions occurred for Corner Corporation: Feb. 1 Purchased 440 shares of the company's own common stock at $24 cash per share; the stock is now held in treasury. July 15 Issued 120 of the shares purchased on February 1 for $34 cash per share. Sept. 1 Issued 80 more of the shares purchased on February 1 for $19 cash per share. 2. Prepare journal entries for each of the transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 3 Record the purchase of 440 shares of previously issued common stock for a price of $24 per share. Note: Fnter dehits before credits 3. What impact does the purchase of treasury stock have on dividends paid? Dividends paid is paid on treasury stock. Therefore, the total amount of when treasury stock is purchased. 4. What impact does the reissuance of treasury stock for an amount higher than the purchase price have on net income? The reissuance of treasury stock for more or less than its original repurchase cost affect net income. The transaction affects only accounts