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Santos, Inc., initially issued 2,000,000 shares of $1 par value stock for $10,000,000 in 2017....

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Accounting

Santos, Inc., initially issued 2,000,000 shares of $1 par value stock for $10,000,000 in 2017. In 2018, the company repurchased 200,000 shares for $2,000,000. In 2019, 100,000 of the repurchased shares were resold for $1,600,000. In its balance sheet dated December 31, 2019, Santos, Inc.s treasury stock account shows a balance of:

a. $ 0.

b. $ 400,000.

c. $1,000,000.

d. $2,000,000

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