Treasury Stock Transactions Lava Lake Inc. bottles and distributes spring water. On February 11 of the current year, Lava Lake reacquired 5,300 shares of its common stock at $75 per share on April 30, Lava Lake Inc. sold 3,700 of the reacquired shares at $84 per share. On August 22, Lava Lake Inc. sold 1,600 shares at 572 per share. a. Journalize the transactions of February 11, April 30, and August 22. If an amount box does not require an entry, leave it blank, Feb. 11 Apr 30 QIU II III III Aug 22 What is the balance in Capital for sale at the stock on December to the current year? for what might have the treaty b. What is the balance in Pald-In Capital from Sale of Treasury Stock on December 31 of the current year? c. For what reasons might Lava Lake have purchased the treasury stock