1. On January 1, 2017, the stockholders equity section of horton Corporation shows Common stock ($5 par value) $1,500,000 paid-in capital in excess of par value $1,000,000; and retained earnings $1,200,000. During the year, the following transactions occurred.

Mar. 1 Purchased 30,000 shares for cash at $22 per share.

July 1 Sold 6,000 treasury shares for cash at $27 per share.

Oct. 1 Sold 5,000 treasury shares for cash at $19 per share.

Dec 1 Sold 3,000 treasury share for cash at $10 per share.