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Sunshine Clothing Company issues 1,000 shares of $1 par value common stock at $27 per share. Later in the year, the company decides to
Sunshine Clothing Company issues 1,000 shares of $1 par value common stock at $27 per share. Later in the year, the company decides to repurchase 100 shares at a cost of $30 per share. Determine the financial statement effects of the repurchase of treasury stock. Note: Amounts to be deducted should be indicated by a minus sign. If there are no effects for a particular transaction/event, select "There are no financial statement effects" in the first account field. Assets Liabilities Balance Sheet Stockholders' Equity Contributed Capital Retained Earnings Treasury Stock Income Statement Revenues Expenses Net Income
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