Problem 13-2A Fechter Corporation had the following stockholders equity accounts on January 1, 2017: Common Stock ($5 par) $547,750, Paid-in Capital in Excess of ParCommon Stock $194,590, and Retained Earnings $109,950. In 2017, the company had the following treasury stock transactions. Mar. 1 Purchased 6,580 shares at $9 per share. June 1 Sold 1,370 shares at $12 per share. Sept. 1 Sold 1,180 shares at $10 per share. Dec. 1 Sold 1,480 shares at $6 per share. Fechter Corporation uses the cost method of accounting for treasury stock. In 2017, the company reported net income of $33,310.