Beluga Software had the following selected account balances at December 31, 2018 (all numbers and amounts are in thousands, except par value per share):

Requirements

1. Prepare the stockholders’ equity section of Beluga Software’s balance sheet (in thousands).

2. How can Beluga have a larger balance of treasury stock than the sum of Common Stock and Paid-in Capital in Excess of Par?

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$ 654 Common stock, $1.50 par per share, 1,100 shares authorized, 360 shares issued . Retained earnings. . Accounts receivable, net.. Notes payable Inventory. . Property, plant, and equipment, net Paid-in capital in excess of par Treasury stock, 160 shares at cost.. Accumulated other comprehensive income (loss).. 900 $ 540 2,220 901 2,560 200 1,274 ..... (727)*