[The following information applies to the questions displayed below.]

On April 10, 2016, Amelia, Inc., purchased 800 shares of its own common stock in the market for $27 per share. On September 28, 2016, the company sold 500 of these shares in the open market at a price of $31 per share.

Balance Sheet

Income Statement

Assets

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Liabilities

+

Stockholders Equity

Net Income

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Revenues

Expenses

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+

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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, 2016. (Use amounts with + for increases and amounts with for decreases.)

Balance Sheet

Income Statement

Assets

=

Liabilities

+

Stockholders Equity

Net Income

=

Revenues

Expenses

=

+

=

=