Rock Bottom Gold Company recently repurchased 7.11 million shares of its common stock for S40 per share. The intent of the repurchase was to increase eamings per share to be more in line with competitors. Required: 1. Determine the impact of the stock repurchase on assets, liabilities, and stockholders' equity. (Negative amounts should be indicated by a minus sign. Enter your answers in whole dollars not in millions (i.e., 1,000,000 not 1.0).) Assets Liabilities Stockholders ecuity 2. Prepare the journal entry to record the repurchase. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars not in millions (i.e., 1,000,000 not 1.0).) View transaction list Journal entry worksheet Record the purchase of Treasury stock for $40 per share Note: Enter debits before credits Debit Transaction General Journal Credit Record entry Clear entry view general journal