Question

The Stockholders' Equity section of Bingham Moving and Storage'sbalance sheet on January 1, 2013, appeared as follows:

Common stock, $5 par, 30,000 shares issued andoutstanding                         $150,000

Additional paid-incapital–common                                                                           $120,000

Retainedearnings                                                                                                        $300,000

                                           Totalstockholders'equity                                                 $570,000

On March 1, 2012, Bingham reacquired 3,000 shares of commonstock at $8 per share.  Answer the followingquestions

A)  What amount would be reported on the March 31,2012, balance sheet for treasury stock?

B)  What is the number of outstanding shares at March31, 2012?

C)  How much is total stockholders' equity to bereported on the March 31, 2012 balance sheet?