Bretton 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 Bretton’s balance sheet (in thousands).

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

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$ 653 Common stock, $1.75 par per share, 1,000 shares authorized, 250 shares issued.. Retained earnings. Accounts receivable, net.. Notes payable Inventory.. Property, plant, and equipment, net Paid-in capital in excess of par .. Treasury stock, 130 shares at cost... Accumulated other comprehensive income (loss).. 854 902 $ 438 2,222 1,820 200 1,100 (730)*