Fresh Water Supply Inc, botties and distributes spring water, On July 17 of the current year, Fresh Water Supply reacquired 7,100 shares of its common stock at $68 per share. Fresh Water had not previously purchased any treasury shares. a. What is the balance of Treasury Stock on December 31 of the current year? 4 b. Where will the balance of Treasury stock be reported on the balance sheet? c. All of the following are reasons that Fresh Water Supply may have purchased the treasury stock except: Feedbed rCheck My Wor a. Treasury Stock. Look at transactions where the treasury stock was sold for amounts that exceeded or dropped below the initial base repurchase price over the period. b. Recall the account classification of Treasury stock. c. Review the section in your text on why companies reacquire stock