On January 1, 2022, the stockholders' equity section of Ayayai Corporation shows common stock ($4 par value) $1,200,000; paid-in capital in excess of par $1,000,000; and retained earnings $1,150,000. During the year, the following treasury stock transactions occurred.
Mar. 1
Purchased 47,000 shares for cash at $15 per share.
July 1
Sold 10,000 treasury shares for cash at $17 per share.
Sept. 1 Sold 9,000 treasury shares for cash at $14 per share.