On november 1, year 1 dixon company paid $20 per share to buy back 1,000 shares of its $8 par value common stock. the stock had originally sold for $15. on december 15, year 1 dixon sold 400 shares of the treasury stock at $24 per share. which of the following shows how the sale of the treasury stock will affect dixon's financial statements on december 15, year 1?

balance sheet income statement statement of cash flows
assets other equity accounts - treasury stock paid-in excess treasury stock rev. - exp. = net inc.

a. 9,600 na - (8,000) 1,600 na - na = na 9,600 ia
b. 9,600 na - (8,000) 1,600 1,600 - na = 1,600 1,600 oa
c. 9,600 na - 9,600 na 9,600 - na = 9,600 9,600 fa
d. 9,600 na - (8,000) 1,600 na - na = na 9,600 fa