Company had the following stockholders’ equity as of January 1, 2025.

During 2025, the following transactions occurred.

Instructions

a. Prepare the journal entries to record the treasury stock transactions in 2025, assuming Clemson uses the cost method.

b. Prepare the stockholders’ equity section as of April 30, 2025. Net income for the first 4 months of 2025 was $130,000.

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Common stock, $5 par value, 20,000 shares issued Paid-in capital in excess of par-common stock Retained earnings Total stockholders' equity $100,000 300,000 320,000 $720,000