On January 1, 2022, a company completed its first issuance of common stock by issuing 10,000 common shares with a $1 par value for $10 per share. On July 1,2022 , the market price per share was $12. The company repurchased 2,000 shares at $8 per share to hold as treasury stock. Under the cost method, what amount should be reported on the balance sheet in the stockholders' equity section for treasury stock? $18,000 $16,000 $2,000 $20,000 $24,000