At March 31, 2014, the Park Place Company Shows the Following

At March 31, 2014, the Park Place Company shows the following data on their balance sheet:
$$\begin{array} { | l | r | } \hline \text { Stockholders' equity } & \\\hline \begin{array} { l } \text { Common stock, } \$ 1 \text { par, } 1,000,000 \text { shares } \\\text { authorized, }\end{array} & \$ 120,000 \\\hline \begin{array} { l } 120,000 \text { shares issued, } 110,000 \text { shares } \\\text { butstanding }\end{array} & \\\hline \text { Paid-in capital in excess of par } & 2,470,000 \\\hline \text { Retained earnings } & 5,440,000 \\\hline \text { Treasury stock, } 10,000 \text { shares at } \$ 25 & ( 250,000 )\\\hline \text { Total stockholder's equity } & \$ 7,780,000 \\\hline\end{array}$$
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Assume Park Place purchases an additional 2,000 shares of treasury stock at $25 per share. Please
restate the equity section of the balance sheet to properly reflect the transaction.
$$\begin{array} { | l | l | l | } \hline \text { Stockholders' equity }\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad&\quad\quad\quad\quad &\quad\quad\quad \\\hline & & \\\hline & & \\\hline\\\hline & & \\\hline\\\hline\end{array}$$