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Lear Flower Shop Presented the Stockholders' Equity Section of Its

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Lear Flower Shop presented the Stockholders' Equity section of its balance sheet on January 1, 2017, as follows:
 Common stock, $2par,10,000 shares issued and outstanding $20,000 Additional paid-in capital—common 40,000 Retained earnings 10,000‾ Total stockhol ders’ equity $70,000‾\begin{array}{lr}\text { Common stock, } \$ 2 \mathrm{par}, 10,000 \text { shares issued and outstanding } & \$ 20,000 \\\text { Additional paid-in capital—common } & 40,000 \\\text { Retained earnings } & \underline{10,000} \\\text { Total stockhol ders' equity } &\underline{ \$ 70,000}\end{array}

All common shares were originally sold for $6 each.The following transactions occurred during 2017:
-Reacquired 3,000 shares of common stock at $15 per share on February 16.
-Sold 2,000 shares of treasury stock at $20 per share on June 1.

 Part 1. Show the effects of the transactions on the accounting equation. \text { Part 1. Show the effects of the transactions on the accounting equation. }
Lear Flower Shop presented the Stockholders' Equity section of its balance sheet on January 1, 2017, as follows: \begin{array}{lr} \text { Common stock, } \$ 2 \mathrm{par}, 10,000 \text { shares issued and outstanding } & \$ 20,000 \\ \text { Additional paid-in capital—common } & 40,000 \\ \text { Retained earnings } & \underline{10,000} \\ \text { Total stockhol ders' equity } &\underline{ \$ 70,000} \end{array} All common shares were originally sold for $6 each.The following transactions occurred during 2017: -Reacquired 3,000 shares of common stock at $15 per share on February 16. -Sold 2,000 shares of treasury stock at $20 per share on June 1. \text { Part 1. Show the effects of the transactions on the accounting equation. } Part 2. How many shares of stock are outstanding at June 1 , immediately after the sale of the 2,000 shares of treasury stock? Part 2. How many shares of stock are outstanding at June 1 , immediately after the sale of the 2,000 shares of treasury stock?

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