Baker co. issued 100,000 shares of common stock in the current year. On October 1, Baker repurchased 20,000 shares of its common stock on the open market for $50 per share. At that date, the stocks par value was $1 and the average issue price was $40 per share. Baker uses the cost method for treasury stock transactions. On Dec. 1, Baker reissued the stock fo $60 per share. What amount should Baker report as treasury stock gain at Dec 31?