Fechter Corporation

Problem 11-2A Fechter Corporation had the following stockholders' equity accounts on January 1, 2015: Common Stock ($4 par) $421,080, Paid-in Capital in Excess of ParCommon Stock $212,370, and Retained Earnings $111,550. In 2015, the company had the following treasury stock transactions. Mar. 1 Purchased 5,500 shares at $8 per share. June 1 Sold 1,240 shares at $13 per share. $ept.1 Sold 1,930 shares at $10 per share. Dec. 1 Sold 1,270 shares at $7 per share. Fechter Corporation uses the cost method of accounting for treasury stock. In 2015, the company reported net income of $27,270