Sun Dance Gardens Inc. develops and produces spraying equipment for lawn maintenance and industrial uses. On June 3 of the current year, Sun Dance Gardens Inc. reacquired 18,700 shares of itscommon stockat $32 per share.

a.What is the balance of Treasury Stock on December 31 of the current year?

$

b.How will the balance in Treasury Stock be reported on the balance sheet?

c.Assume that Sun Dance Gardens sold 11,800 shares of its treasury stock at $34 on November 2. What accounts would be affected by the sale of the treasury stock?

Paid-In Capital from Treasury Stock

by $Cash

by $Treasury Stock

by $