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Year Ending 12/31/2019 12/31/2020 Assets $345,000 $399,000 Current $27,000 $28,500 Liabilities Long-Term $100,000 $140,000 Liabilities Capital Stock ? ? Treasury Stock $2,200 ? Retained $82,000
Year Ending 12/31/2019 12/31/2020 Assets $345,000 $399,000 Current $27,000 $28,500 Liabilities Long-Term $100,000 $140,000 Liabilities Capital Stock ? ? Treasury Stock $2,200 ? Retained $82,000 ? Earnings The above data is from Millies Cosmetics. During 2020, Millie's net income was $38,000 and $7,200 in dividends were declared. The dividends however were not paid until February 2021. $9,000 in new Capital Stock was issued in 2020. Using the data above calculate the balance of the Treasury Stock account at year end in 2020.
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