Read the article below. Then determine the impact to the balance sheet for the situations described.

For each action, determine the impact to the five major categories of the balance sheet:

Current Assets		Current Liabilities
Long-Term Assets		Long-Term Liabilities
		Equity

With its stock at an all-time low, the Time Inc. board on Thursday voted after the market closed to accelerate its previously announced $500 million stock buyback and debt reduction program.

The plan is to buy back up to $300 million in common stock while trimming up to $200 million in debt.

On Thursday, the Time stock sank to a new low of $15.99 before closing at $16 a share, down 3.5 percent.

The buyback means Time is preparing to spend the $685 million it received from its recent'sale of the Blue Fin Building that it owns in downtown London.

In the Big Apple, the company is in the midst of a move from the Time & Life Building in Rockefeller Center to its new downtown HQ, which it says will save $50 million in real estate costs.