Beluga Software had the following selected account balances at December 31, 2021 (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?

Transcribed Image Text:

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