Treasury Stock Coastal Corporation issued 37,500 shares of $5 par value common stock at $51 per share and 9,000 shares of $50 par value, eight percent preferred stock at $234 per share. Later, the company purchased 4,500 shares of its own common stock at $60 per share. a. Determine the financial statement effect of the share issuances and the purchase of its own common shares. Balance Sheet Income Statement Assets 0 Liabilities + Equity 0 Revenues Expenses Net Income 0 0 0 0 b. Assume that Coastal sold 3,000 shares of the treasury stock at $78 per share. Determine the financial statement effect of the sale of the treasury stock. Balance Sheet Assets 0 => Income Statement Liabilities + Equity Revenues Expenses Net Income 0 0 0 0 c. Assume that Coastal sold the remaining 1,500 shares of treasury stock at $57 per share. Determine the financial statement effect of the sale of the treasury stock. Balance Sheet Assets Liabilities + Equity 0 0 0 Income Statement Revenues Expenses Net Income 0 0 0