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Mountain springs inc bottles and distributes springwater on

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Reference no: EM13614810

Mountain Springs Inc. bottles and distributes springwater. On May 2 of the current yer, Mountain Springsreacquired 3,000 shares of its common stock at $72 per share.

  1. What is the balance of Treasury Stock on December 31 ofthe current year?
  2. Where will the balance of Treasury Stock be reported onthe balance sheet?
  3. For what reasons might Mountain Springs have purchased the treasury Stock?

Reference no: EM13614810

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