Presented below is the stockholders' equity section of Oaks Corporation at December 31, 2014: Common...
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Accounting
Presented below is the stockholders' equity section of Oaks Corporation at December 31, 2014:
Common stock, par value $20; authorized 75,000 shares;
issued and outstanding 45,000 shares $ 900,000
Paid-in capital in excess of par value 350,000
Retained earnings 300,000
$1,550,000
During 2015, the following transactions occurred relating to stockholders' equity:
3,000 shares were reacquired at $28 per share.
3,000 shares were reacquired at $35 per share.
1,800 shares of treasury stock were sold at $30 per share.
For the year ended December 31, 2015, Oaks reported net loss of $150,000. Assuming Oaks accounts for treasury stock under the cost method, what should it report as total stockholders' equity on its December 31, 2015, balance sheet?
a. $1,265,000.
b. $1,261,400.
c. $1,565,000.
d. $1,415,000.
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