Keep getting information for Treasury Stock incorrect amount incorrect. On January 1, 2020, Sheridan Inc. had the following stockholders' equity balances. Common Stock (595,000 shares issued) $1,190,000 Paid-in Capital in Excess of Par-Common Stock 540,000 Common Stock Dividends Distributable 210,000 Retained Earnings 620,000 During 2020, the following transactions and events occurred. 1.   Issued 105,000 shares of $2 par value common stock as a result of 15% stock dividend declared on December 15, 2021.   2.   Issued 52,500 shares of common stock for cash at $4 per share.   3.   Purchased 29,000 shares of common stock for the treasury at $5 per share.   4.   Declared and paid a cash dividend of $111,000.   5.   Sold 5,000 shares of treasury stock for cash at $5 per share.   6.   Earned net income of $320,000.   Prepare a stockholders' equity statement for the year.  Purchased 29,000 shares of treasury stock 145000   -145000   Sold 5,000 shares of treasury stock -25000   25000

Question

Keep getting information for Treasury Stock incorrect amount incorrect.

On January 1, 2020, Sheridan Inc. had the following stockholders' equity balances.

Common Stock (595,000 shares issued) $1,190,000
Paid-in Capital in Excess of Par-Common Stock 540,000
Common Stock Dividends Distributable 210,000
Retained Earnings 620,000


During 2020, the following transactions and events occurred.

1.   Issued 105,000 shares of $2 par value common stock as a result of 15% stock dividend declared on December 15, 2021.  
2.   Issued 52,500 shares of common stock for cash at $4 per share.  
3.   Purchased 29,000 shares of common stock for the treasury at $5 per share.  
4.   Declared and paid a cash dividend of $111,000.  
5.   Sold 5,000 shares of treasury stock for cash at $5 per share.  
6.   Earned net income of $320,000.  

Prepare a stockholders' equity statement for the year. 

Purchased 29,000 shares of treasury stock
145000
 
-145000
 
Sold 5,000 shares of treasury stock
-25000
 
25000
 

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