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The stockholders' equity account balances of ABC Company at January 1, 2020 are given below: Common stock ......................... Paid-in capital - common stock ....... Treasury
The stockholders' equity account balances of ABC Company at January 1, 2020 are given below: Common stock ......................... Paid-in capital - common stock ....... Treasury stock Paid-in capital - treasury stock ..... Retained earnings ......... January 1, 2020 658,000 423,000 256,000 18,000 425,000 The common stock account at January 1 consisted of 31,000 shares that were outstanding at a $14 par value per share. The treasury stock account at January 1 consisted of 16,000 shares of common stock that had been re-acquired at a $16 cost per share. During January, ABC entered into the following transactions : January 11: Re-issued 6,800 of the treasury shares for $21 per share January 19: Issued 17,000 shares of previously un-issued common stock for $25 per share January 28: Declared and paid a $2.30 dividend per share on the outstanding shares of common stock ABC Company reported a net income of $120,000 for January. Calculate the amount of ABC Company's total stockholders' equity at January 31, 2020
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