Johnny Deng, Incorporated Initially issued 400,000 shares of $1 par stock for $2,000,000 in 2022. In 2023, the company repurchased 40,000 shares for $400,000. In 2024, 20,000 of the repurchased shares were resold for $320,000. In its balance sheet dated December 31, 2024, Johnny Deng, Incorporated's treasury stock account shows a balance of:
Multiple Choice
\$0.
\$200,000
\$80,000