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Use the following information to answer the question below. On January 1, 2013, Falcon Corporation had 40,000 shares of $10 par value common stock issued
Use the following information to answer the question below. On January 1, 2013, Falcon Corporation had 40,000 shares of $10 par value common stock issued and outstanding. All 40.000 shares had been issued in a prior period at $17 per share. On February 1, 2013, Falcon purchased 6,100 shares of treasury stock for $19 per share and later sold the treasury shares for $26 per share on March 2, 2013. What amount of gain due to these treasury stock transactions should be reported on the income statement for the year ended December 31, 2013? $6,100 $4270 $42.700 $0
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