6

The stockholders' equity section of the January 1, 2031 balance sheet for XYZ Company is given below: XYZ Company entered into the following transactions during 2031 : a. Re-issued 2,200 of the treasury shares for $13 per share. b. Re-issued 4,100 of the treasury shares for $21 per share. c. Re-issued 3,700 of the treasury shares for $14 per share. d. Re-issued 3,500 of the treasury shares for $11 per share. Calculate the balance in the retained earnings account after all four transactions above are recorded