Denny's Deli, Inc The stockholders' equity section of the December 31, 2011, balance sheet for Denny's Deli appeared as follows: Common stock, $20 par, 40,000 shares issued and outstanding $ 800,000 Additional paid-in capital 320,000 Retained earnings 600,000 Total stockholders' equity $ 1,720,000 Assume that all of the 40,000 shares of Denny's stock that was issued as of December 31, 2011, was
issued for $35 per share. On March 1, 2012, Denny reacquired 5,000 shares of its common stock for $43 per share. Refer to the information presented above for Denny's Deli, Inc How much should be reported on Denny's March 31, 2012, balance sheet for treasury stock?
A) $42,000
B) $126,000
C) $162,000
D) $215,000
D
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