On April $10,2022,$ Amelia Incorporated purchased $1,800$ shares of its own common stock in the market for $$23$ per share. On September $28,2022,$ the company sold $700$ of these shares in the open market at a price of $$26$ per share.

Mini$-$Exercise $8-6($Static$)-$ Horizontal model

Required:

Use the horizontal model to show the effects on Amelia Incorporated$$s financial statements of the purchase of the treasury stock on April $10,2022.$ Indicate the financial statement effect.

Use the horizontal model to show the effects on Amelia Incorporated$$s financial statements of the sale of the treasury stock on September $28,2022.$ Indicate the financial statement effect.