CIATS Company's stockholders' equity section for the period sequity section for the period ended December 31, 2016 is presented below $100,000 Preferred Stock - 6% cumulative. $20 par value, 10,000 shares authorized, 5,000 shares issued and outstanding Contributed Capital in excess of par value, Preferred Stock Common Stock, $5 par value, 20,000 shares authorized, 10,000 shares issued and outstanding Contributed Capital in excess of par value, Common Stock Total Contributed Capital Retained Earnings Total Stockholders' Equity $250,000 $50,000 $450,000 $850,000 $150,000 $1,000,000 9. On January 1, 2016 CIATS Company purchased 1,000 shares of its own common stock for $22,000. On February 1, 2016, they sold 600 of these shares for $25 per share, and on March 1, 2016, they sold the remaining 400 shares for $15 per share. The journal entry required on March 1, 2016 will include a 22 X/000 a. credit to the Contributed Capital, Treasury stock, $2,800 account (b) debit to the Contributed Capital, Treasury stock, $1,800 account. 400-15 = 6,0001 400-22 = 8,800 - C. debit to the Retained Earnings, $2,800 account. d. debit to the Retained Earnings, $1,800 account. 6000