PART A: (10 pts) Using the Balance Sheet Equation below, account for the folloiwng transactions: NOTE: you can also use Journal Entries. (debits & credits) instead of the Balance Sheet Equation, if you like Starting Balances Assume Strand decides to Buy Back 1,500 shares of its Common Stock for $8/share Strand later re-issues 1,000 shares of the stock it bought back at $9/share PART B: Prepare Strand's Stockholders' Equity section: (15pts) STOCKHOLDERS' EQUITY ASSETS Cash $500,000 Liabilities + --EQUITY- Common Stock APIC- Comm Stk Preferred Stock APIC-Pref Stk $125,000 $200,000 $75,000 $100,000 Treasury Stock APIC- treas stk Retained Earnings revenues (exps) (dividends) TOTALS $500,000 $100,000 $125,000 $200,000 $75,000 $0 $0 $0 $0 $0 Assets = $500,000 Liabs=$0 + Equity = $500,000 #3 (30pts) Strand Corp purchases a company Vehicle on 7/1/19. Cost = $70,000. Salavage value 10%. Est useful life = 5 years. REQUIRED: for year-end 12/31st for 2019 and 2020 only: 1) calculate Depreciation Exp using Straight-Line Depreciation for 2019 and 2020 2) using the Accounting Equation or Journal Entries, do the accounting on 12/31/19 and 12/31/20 3) at the end of 12/31/20 show the asset's Net Book Value #4 ---show all your work for credit-- REQUIRED: 1. Explain the difference between Tangible Assets and Intangible Assets 2. Give at least 3 examples of a tangible asset and an intangible asset 3. Explain how to calculate Amortization Expense and give an example of the accounting (make-up your own numbers)