Exercise 11-13A Recording and reporting treasury stock transactions LO 11-5 The following information pertains to JAE Corp. at January 1, Year 1: Common stock, $9 par, 10,000 shares authorized, 2,000 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings $18,000 17,600 65,800 JAE Corp. completed the following transactions during Year 1: 1. Issued 900 shares of $9 par common stock for $28 per share. 2. Repurchased 240 shares of its own common stock for $25 per share. 3. Resold 50 shares of treasury stock for $26 per share. Cash Common Stock Beg. Bal Beg. Bal 8,100 End. Bal End. Bal 8,100 Treasury Stock Beg. Bal PIC in Excess of Par, CS 0 17,100 Beg. Bal 1,250 End. Bal 17,100 End. Bal 1,250 PIC in Excess of Cost, TS 0 Beg. Bal 50 End. Bal d. Prepare the stockholders' equity section of the balance sheet reflecting these transactions. (Amounts to be deducted should be indicated with minus sign.) Stockholders' equity Common stock Paid-in capital in excess of par, CS Paid-in capital in excess of cost, TS Total paid-in capital Retained earnings Less: Treasury stock Total stockholders' equity