Rock Bottom Gold Company recently repurchased 7 million shares of its common stock for $47 per share. The intent of the repurchase was to increase earnings per share to be more in line with competitors. Required: 1. Determine the impact of the stock repurchase on assets, liabilities, and stockholders' equity. (Enter your answers in whole dollars not in millions (i. e., 1,000,000 not 1.0). Negative amounts should be indicated by a minus sign.)

The impact includes Assets = -$32,90,00,000, Liabilities = No Effect and Stockholder's Equity = -$32,90,00,000.

If the stock is repurchased, the cash will be paid. Thus, the assets would be decreased.

Also for the stock repurchase, the stockholder's equity will be decreased consequently.

Assets = Cash (7,000,000*$47)

Assets = -$329,000,000

Thus, the assets will decrease by $329,000,000.

Liabilities = No Effect

Thus, the liabilities will have no impact for the transaction.

Stockholder's Equity = -$329,000,000

Thus, the stockholder's equity will be decreased by $329,000,000.

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you will have $2593.74 in 10 years if you set aside $1,000 at 10%

you will have $9321.91 in 20 years if you set aside $2000 at 8%

you will have $1469.32 in 5 years if you set aside $1000 at 8%

you will have $1296.87 in 10 years if you set aside $500 at 10%

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you will have $4660.96 in 20 years if you set aside $1000 at 8%

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