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#2 PART A: Using the Balance Sheet Equation below, account for the folloiwng transactions: ASSETS Cash Example Balances $500,000 Liabilities + -EQUITY- Common Stock APIC- Comm Stk Preferred Stock APIC-Pref Stk Treasury Stock $100,000 $125,000 $200,000 $75,000 APIC-treas stk Retained Earnings revenues (exps) (dividends) 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 TOTALS $500,000 $100,000 $125,000 $200,000 $75,000 $0 $0 $0 $0 $0 Assets = $500,000 Liabs = $0 + Equity = $500,000 PART B: Prepare Strand's Stockholders' Equity section: STOCKHOLDERS' EQUITY