Carey Software had the following selected account balances at December 31, 2014 (in thousands, except par value per share):

Requirements
1. Prepare the stockholders€™ equity section of Carey€™s balance sheet (in thousands).
2. How can Carey have a larger balance of treasury stock than the sum of Common Stock and Paid-in Capital in Excess ofPar?

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S 1,120 Inventory Property, plant, and Common stock, $0.25 par per share, 900 shares authorized, 500 shares equipment, net2,860 Paid-in capital in excess of par Treasury stock, issued S 125 2,316 1,030 1,274 903 Retained earnings. 90 shares at cost Accounts receivable, net.... Notes payable.... 1,485 Accumulated other comprehensive income (loss).(732) Debit balance