20. On its December 31, 20x5, balance sheet, Wesco Corporation reported its stockholders' equity as follows: Common stock-$5 par value, 100,000 shares authorized, 50,000 shares issued and outstanding $250,000 Paid-in capital in excess of par value, common 125,000 Retained earnings 400.000 Total stockholders' equity $775,000 During 20x6, the following transactions occurred: 1. Reacquired 2,500 shares at $7 per share. 2. Sold 1,200 shares of treasury stock at $8 per share. 3. Sold 500 shares of treasury stock at S6 per share. Net income for 20x6 amounted to $80,000. Required: a. Prepare entries in journal form for the three transactions involving treasury stock. b. Compute the amount of total stockholders' equity to be reported on the December 31, 20x6, balance sheet