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Presented below is the stockholders' equity section of Oaks Corporation at December 31, 2020: Common stock, par value $20; authorized 75,000 shares; issued and outstanding

Presented below is the stockholders' equity section of Oaks Corporation at December 31, 2020:

Common stock, par value $20; authorized 75,000 shares;

issued and outstanding 45,000 shares

$ 900,000

Paid-in capital in excess of par value

350,000

Retained earnings

442,000

$1,692,000


During 2021, the following transactions occurred relating to stockholders' equity:

3,000 shares were reacquired at $30 per share.

1,800 shares of treasury stock were sold at $35 per share.

For the year ended December 31, 2021, Oaks reported net income of $450,000. Assuming Oaks accounts for treasury stock under the cost method, what should it report as total stockholders' equity on its December 31, 2021, balance sheet?

A.

$2,065,000.

B.

$2,061,400.

C.

$2,173,000.

D.

$2,115,000.

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