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Good day, please help me on my problem solving activity in Intermediate Accounting 2: Shareholder's Equity. I would very much appreciate! The stockholders' equity of

Good day, please help me on my problem solving activity in Intermediate Accounting 2: Shareholder's Equity. I would very much appreciate!

The stockholders' equity of the TAEOH Corp. as of December 31, 2020, was as follows:

Common stock, 10 par, authorized: 300,000 shares

250,000 shares issued and outstanding 2,500,000

Paid-in capital in excess of par 3,750,000

Retained earnings1,800,000

On June 1, 2021, TAEOH reacquired 40,000 shares of its common stock at 40. The following transactions occurred in 2022 with regard to these shares.

July 1Sold 15,000 shares at 45

Aug 1Sold 17,000 shares at 30

Sept 1Retired 1,000 shares.

The following entries were made by the bookkeeper to record the preceding transactions:

2022

June 1Treasury stock 1,600,000

Cash 1,600,000

July 1Cash675,000

Treasury stock675,000

Aug 1Cash510,000

Treasury stock510,000

Sept 1Common stock10,000

Treasury stock10,000

The company's net income for 2021 was 120,000.

Based on the preceding information, determine the correct balances of the following accounts:

Q1. Treasury stock ________________

Q2. Common stock ________________

Q3. Paid-in capital in excess of par ________________

Q4. Paid-in from treasury stock ________________

Q5. Retained earnings ________________

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