Treasury stock that was purchased for $3,000 is sold for $3, 500. As a result of these two transactions combi a. stockholders' equity will not change b. stockholders' equity will be increased by $3, 500 c. income will be increased by $500 d. stockholders' equity will be increased by $500 14. The charter of a corporation provides for the issuance of 100,000 shares of common stock. Assume that 40,000 shares were originally issued and 10,000 were subsequently reacquired. What is the number of shares a. 10,000 b. 40,000 c. 50,000 d. 30,000 Factors contributing to a decline in the usefulness of a fixed asset may be divided into the following two categories a. salvage and functional b. physical and functional c. functional and residual d. residual and salvage Richardson Company has a condensed income statement as shown. Using horizontal analysis, calculate the amount and percent change for sales. Round to one decimal place a. $(17,000), (11.3%) b. $(18,000), (10.9%) c. $(15, 50), (10.3%) d. $(15, 500), (9.4%) If total assets decreased by $88,000 during a period of time and stockholders' equity increased by the same period, then the amount and direction (increase or decrease) of the period's change in total a. a $159,000 increase b. a $159,000 decrease c. a $17,000 increase