Rock Bottom Gold Company recently purchased 7.02 million shares of its common stock for $49 per share. The intent of the repurchase was to increase earnings per share to be lore in line with competitors.

1. determine the impact of the stock repruchase on assets, liabilities, and stockholders equity. (Enter your answers in whole dollars not in millions. Negative amounts should be indicated by a minus sign)

2. Prepare the journal rntry to record the repurchase. (If no entey is required for a transaction/ event, select "no journal entry required. Enter your answers in whole dollars not in millions)

Assets Liabilities Stockholders' equity 2. Prepare the journal entry to record the repurchase required" in the first account field. Enter your answ View transaction list Prepare the journal entry to record the repurchase. (If no entry is required for a transaction/ quired" in the first account field. Enter your answers in whole dollars not in millions (1.e., 1,0 View transaction list Journal entry worksheet 1 Record the repurchase of common stock for $49 per share. Note: Enter debits before credits Transaction General Journal Debit Credit 1 Record entry Clear entry View general Journal SCEPTRE