On January 1, 2004, the accounting records of Saber, Inc. showed $100,000 in Common Stock, $100,000 in Paid-In Capital in Excess of Par Value --- Common Stock, and $45,000 in Retained Earnings. Saber, Inc. purchased 2,000 shares of its own stock from the market for $15 per share on January 21, 2004. On March 15, the firm sold 1,000 of these shares for $20 per share. On June 10, the firm sold one-half the remaining shares at $10 per share. There were no other stock transactions. What was total stockholders’ equity after these transactions?
a. $242,500
b. $240,000
c. $245,000
d. $237,500
e. None of the above.
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