On its December 31,2009,balance sheet,Houston Corporation reported its stockholders' equity as follows:
During 2010,the following transactions occurred:
Reacquired 2,500 shares at $7 per share.
Sold 1,200 shares of treasury stock at $8 per share.
Sold 500 shares of treasury stock at $6 per share.
Net income for 2010 amounted to $80,000.No dividends were declared.
Prepare the stockholders' equity section of the balance sheet as it should appear on December 31,2010.
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