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Sanborn Company has outstanding 40,000 shares of $5 par value common stock which has been issued at $30 per share.
1. Purchased 5,000 treasury shares at $45 per share
2. Resold 500 of the treasury shares at $40 per share
3. Resold 2,000 of the treasury shares at $49 per share
Use the transactions to indicate the effect on financial statement:
I = Increase; D= Decrease; NE = No Effect
Assetes Liabilities Stockholders Eq. Paid in Capital RE Net Income
1.
2.
3.
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