Glow Co.reacquired 60,000 shares of its common stock at $25 per share.The balance of the treasury stock account is reported on the balance sheet as a(n):

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Treasury stock represents shares of a company's stock that have been repurchased by the company. When a company reacquires its own stock, it reduces the number of outstanding shares, which in turn reduces stockholders' equity. Therefore, the balance of the treasury stock account is reported on the balance sheet as a reduction of stockholders' equity.

Glow CoReacquired 60,000 Shares of Its Common Stock at $25 Per