Discount Center furniture, Inc. completed the following treasury stock transactions in 2014: Dec. 1 Purchased 1,400 shares of the company's $1 par value common stock as treasury stock, paying cash of $5 per share. Sold 400 shares of the treasury stock for cash of $8 per share. Sold 800 shares of the treasury stock for cash of $2 per share. (Assume the balance in Paid-In Capital from Treasury Stock Transactions on December 20 52000) 15 20 Requirements 1. Journalize these transactions. Explanations are not required. 2. How will Discount Center Furniture, Inc. report treasury stock on its balance sheet as of December 31, 2014