Reference no: EM132503603

The stockholders' equity account balances of ABC Company at January 1, 2023 are given below:

                                                      January 1
Common stock ........................... 448,000
Paid-in capital - common stock .......... 704,000
Retained earnings ....................... 266,000

During January, ABC entered into the following transactions:

January 11: Re-acquired 21,000 shares of its outstanding common stock by paying $19 per share

January 16: Re-issued 4,300 of shares re-acquired on January 11 for $12 per share

January 21: Re-issued 3,200 of shares re-acquired on January 11 for $24 per share

January 26: Re-issued 3,200 of shares re-acquired on January 11 for $10 per share

Question 1: Calculate the balance in the retained earnings account after the above four transactions have been recorded.