On January 1, 2017, the stockholders' equity section of Newlin Corporation shows common stock ($5par value) $1,500,000; paid-in capital in excess of par $1,020,000; and retained earnings $1,200,000. During the year, the following treasury stock transactions occurred.

Mar.1Purchased52,000 shares for cash at $15 per share.

July1Sold11,500 treasury shares for cash at $17 per share.

Sept.1Sold9,500 treasury shares for cash at $14 per share.