Bretton Software had the following selected account balances at December 31, 2021 (all numbers and amounts are in thousands, except par value per share): 

Requirements 

1. Prepare the stockholders’ equity section of Bretton’s balance sheet (in thousands).

2. How can Bretton have a larger balance of treasury stock than the sum of Common Stock and Paid-in Capital in Excess of Par?

Transcribed Image Text:

Inventory..........…... Property, plant, and equipment, net. Paid-in capital in excess of par. Treasury stock, 130 shares at cost...... Accumulated other ***** comprehensive income (loss)..... $ 653 854 902 1,820 (730)* Common stock, $1.75 par per share, 1,000 shares authorized, 250 shares issued.......... Retained earnings....... Accounts receivable, net...... Notes payable. $ 438 2,222 200 1,100