Alistair Software had the following selected account balances at December 31, 2016 (all numbers and amounts are in thousands, except par value per share):
Inventory.....................................................................................$ 654
Property, plant, and equipment, net....................... .................................950
Paid-in capital in excess of par...............................................................900
Treasury stock, 140 shares at cost.........................................................1,890
Accumulated other comprehensive income (loss)......................................(730)*
Common stock, $2.50 par per share, 800 shares authorized, 250 shares issued....$ 625
Retained earnings...........................................................................2,222
Accounts receivable, net.....................................................................600
Notes payable...............................................................................1,166
•Debit balance
Requirements
1. Prepare the stockholders' equity section of Alistair's balance sheet (in thousands).
2. How can Alistair have a larger balance of treasury stock than the sum of Common Stock and Paid-in Capital in Excess of Par.