Business, 24.03.2020 01:16 Andyrogers

Presented below is the stockholders' equity section of Oaks Corporation at December 31, 2015:
Common stock, par value $20; authorized 75,000 shares;
issued and outstanding 45,000 shares $ 900,000
Paid-in capital in excess of par value 250,000
Retained earnings 300,000
$1,450,000
During 2016 the following transactions occurred relating to stockholders' equity:
3,000 shares were reacquired at $28 per share.
3,000 shares were reacquired at $35 per share.
1,800 shares of treasury stock were sold at $30 per share.
For the year ended December 31, 2016, Oaks reported a net income of $450,000. Assuming Oaks accounts for treasury stock under the cost method, what should it report as total stockholders' equity on its December 31, 2016, balance sheet?

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Presented below is the stockholders' equity section of Oaks Corporation at December 31, 2015:
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