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Presented below is the stockholders' equity section of Bonita Industries at December 31, 2020: Common stock, par value $20; authorized 75,000 shares; issued and
Presented below is the stockholders' equity section of Bonita Industries at December 31, 2020: Common stock, par value $20; authorized 75,000 shares; issued and outstanding 44800 shares $ 896000 Paid-in capital in excess of par value Retained earnings 355000 495000 $1746000 During 2021, the following transactions occurred relating to stockholders' equity: 3000 shares were reacquired at $29 per share. 3000 shares were reacquired at $34 per share. 1900 shares of treasury stock were sold at $31 per share. For the year ended December 31, 2021, Bonita reported net income of $442000. Assuming Bonita accounts for treasury stock under the cost method, what should it report as total stockholders' equity on its December 31, 2021, balance sheet? $2050700. $2054300. $1615900. O $2057900.
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