P1 tions stock is $30 per share). 5-5 (Treasury Stock- Cost Method) Before Gordon Corporation engages in the treasury stock transac- low, its general ledger reflects, among others, the following account balances (par value of its Paid-in Capital in Excess of Par-Common Stock Common Stock Retained Earnings $80,000 $99,000 $270,000 Instructions Record the treasury stock transactions (given below) under the cost method of handling treasury stock; use the FIFO method for purchase-sale purposes. (a) Bought 380 shares of treasury stock at $40 per share. (b) Bought 300 shares of treasury stock at $45 per share. (c) Sold 350 shares of treasury stock at $42 per share. (d) Sold 110 shares of treasury stock at $38 per share. P156 ( ib D follow Treasury Stock-Cost Method-Equity Section Preparation) Washington Company has the ing stockholders' equity accounts at December 31, 2014. e nnn shares $480.000