The following information pertains to Ming Corp. at January 1, Year 2:

Common stock, $9 par, 53,000 shares authorized, 3,000 shares issued and outstanding$27,000 Paid-in capital in excess of par, common stock 103,300 Retained earnings 103,300

Ming Corp. completed the following transactions during Year 2:

Issued 2,700 shares of $9 par common stock for $14 per share.

Repurchased 1,200 shares of its own common stock for $17 per share.

Resold 720 shares of treasury stock for $19 per share.

Earned $60,900 of cash revenue.

Paid $41,900 of cash operating expense