Question: Stockholders' equity section. Balance sheet is provided below. Common stock, $30 par, 20,000 share issued and outstanding: $600,000 Pain-in capital in excess of Par-common stock:

Stockholders' equity section. Balance sheet is provided below.

Common stock, $30 par, 20,000 share issued and outstanding: $600,000

Pain-in capital in excess of Par-common stock: 240,000

Retained earnings: 700,000

Total stockholders' equity: $1,540,000

Assume that all of the 20,000 shares of stock that was issued as of December 31, 2014, was issued for $43 per share. On march 1, 2015, the company reaquires 4,000 shares of its common stock for $50 per share. What is the total amount of stockholders' equity that will be presented on company's march 31, 2015 balance sheet?

a. $1,340,000

b. $1,372,000

c. $1,708,000

D. $1,740,000

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