Quality Corporation reports the following information in its January 1, 2014, balance sheet:

Stockholders' equity
Common stock, $12 par value, 57,000 shares authorized, 34,500
shares issued and outstanding	$	414,000
Paid-in capital in excess of par value		151,300
Retained earnings		91,400
Total stockholders' equity	$	656,700

During 2014, Quality was affected by the following accounting events:

1.	Purchased 1,400 shares of treasury stock at $20 per share.
2.	Reissued 840 shares of treasury stock at $22 per share.
3.	Earned $71,700 of cash revenues.
4.	Paid $36,950 of cash operating expenses.

QUALITY CORPORATION Balance Sheet (Partial) As of December 31, 2014 Stockholders' Equity Common stock Paid-in capital in excess of par-common stock Paid-in capital in excess of cost-treasury stock $414,000 151,300 Total paid-in capital $ 565,300 Total stockholders' equity $565,300