Ayayai Corporation had the following stockholders’ equityaccounts on January 1, 2020: Common Stock ($5 par) $500,000,Paid-in Capital in Excess of Par—Common Stock $200,000, andRetained Earnings $120,000. In 2020, the company had the followingtreasury stock transactions.
| Mar. | 1 | | Purchased 5,500 shares at $9 per share. |
| June | 1 | | Sold 1,000 shares at $13 per share. |
| Sept. | 1 | | Sold 1,000 shares at $11 per share. |
| Dec. | 1 | | Sold 1,500 shares at $7 per share. |
Ayayai Corporation uses the cost method of accounting for treasurystock. In 2020, the company reported net income of $30,000.
Prepare the stockholders’ equity section for Ayayai Corporationat December 31, 2020. (Enter the account name only anddo not provide the descriptive information provided in thequestion.)
