Business Assignment 7General Dynamics Read the announcement entitled, General Dynamics Board Increases Dividend, Authorizes Additional Share Repurchase." Answer the following questions. Assume that General Dynamics repurchases $100,000 of its stock on March 31, 2020. Journalize this transaction. (2 points) Date Accounts Debit Credit 2. Will the following categories of the balance sheet increase, decrease or remain the same because of General Dynamics repurchasing its stock? Total Assets: Total Liabilities: Total Stockholders' Equity 3. Give three reasons why a company would repurchase its own shares of stock A. B. C. 4. Ignoring anything else, would repurchasing its own stock increase or decrease the market price of General Dynamics's stock? Why? General Dynamics Board Increases Dividend, Authorizes Additional Share Repurchase March 04, 2020 RESTON, Va. - The board of directors of General Dynamics (NYSE: GD) today declared a regular quarterly dividend of $1.10 per share on the company's common stock, payable May 8. 2020, to shareholders of record on April 10, 2020. This is the 23rd consecutive annual dividend increase authorized by the General Dynamics board, and represents a 7.8% increase over last year's dividend. The board also provided management with the authority to repurchase an additional 10 million shares of the company's issued and outstanding common stock on the open market. General Dynamics, headquartered in Reston, Virginia, is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; IT services; C4ISR solutions, and shipbuilding and ship repair. General Dynamics employs more than 100.000 people worldwide and generated $39.4 billion in revenue in 2019