Treasury Stock Transactions The Stockholders' Equity category of Tiny Tito's balance sheet on January 1, 2014, appeared as follows: Required: 1. Identify and analyze the effect of each transaction. The following transactions occurred during 2014: a. Reacquired 4,600 shares of common stock at $20 per share on February 1. Activity Accounts Statement(s) How does this entry affect the accounting equation? If a financial statement item is not affected, select "No Entry" and leave the amount box blank. If the effect on a financial statement item is negative, i.e, a decrease, be sure to enter the answer with a minus sign. Balance Sheet Income Statement Assets = Liabilities + Stockholders' Equity Revenues Expenses = Net Income b. Reacquired 1,300 shares of common stock at $13 per share on March 1. Activity Accounts Statement(s) How does this entry affect the accounting equation? If a financial statement item is not affected, select "No Entry" and leave the amount box blank. If the effect on a financial statement item is negative, i.e, a decrease, be sure to enter the answer with a minus sign. Balance Sheet Income Statement Assets = Liabilities + Stockholders' Equity Revenues Expenses = Net Income 2. What effect did the two transactions to purchase treasury stock and the later reissuance of that stock have on the Stockholders' Equity section of the balance sheet? Overall, stockholders' equity: