Determine the Effect of the Following Transactions on the Financial

Determine the effect of the following transactions on the financial statement components identified.Code your answers as follows:
A: If the transaction results in an increase in the financial statement component.
B: If the transaction results in a decrease in the financial statement component.
C.If the transaction does not affect the financial statement component.
Transaction 1: Common stock was sold at a price in excess of par value.
Net income _____
Total assets _____
Stockholders' equity _____
Transaction 2: Treasury stock was purchased using cash.
Net income _____
Total assets _____
Stockholders' equity _____
Transaction 3: Treasury stock was resold for cash at a price less than the treasury stock's cost.
Net income _____
Total assets _____
Stockholders' equity _____
Transaction 4: Treasury stock was resold for cash at a price greater than the treasury stock's cost.
Net income _____
Total assets _____
Stockholders' equity _____