) Ellison Company's balance sheet shows:

Common stock, $20 par $4,000,000

Paid-in capital in excess of par common stock 5,050,000

Retained earnings 1,750,000

Total S/H Equity $10,800,000

Record the following transactions by the cost method:

a. Ellison Co. bought 11,000 shares of its own common stock at $42 a share.

b. Ellison Co. sold 4,000 treasury shares at $44 a share.

c. Ellison Co. sold 5,000 treasury shares at $39 a share.