The Stockholders Equity category of Bradford Companys balance sheet on January 1, 2016, appeared as follows: Bradford Company Partial Balance Sheet January 1, 2016 1 Stockholders equity: 2 Common stock, $10 par, 30,000 shares issued and outstanding 300,000.00 3 Additional paid-in capital 150,000.00 4 Retained earnings 90,000.00 5 Total stockholders equity $540,000.00 The following transactions occurred during 2016: a. Reacquired 6,000 shares of common stock at $18 per share on July 1. b. Reacquired 1,200 shares of common stock at $16 per share on August 1. Required: 1. Record the entries in journal form. 2. Assume that the company resold the shares of treasury stock at $28 per share on October 1. Did the company benefit from the treasury stock transaction? If so, where is the gain presented on the balance sheet