Use the Following Information for Questions

Multiple Choice

Use the following information for questions.
Galba Corp.'s shareholders' equity at January 1, 2020 was:
Common shares, no par value; authorized 200,000 shares; During 2020, Galba had the following share transactions:
Acquired 2,000 treasury shares for $ 30,000
Sold 1,200 treasury shares at $ 19 a share
Retired the remaining treasury shares
No other share transactions occurred during 2020.
-The total contributed surplus at December 31, 2020 is

A) $ 24,800.
B) $ 4,800.
C) $ 4,000.
D) $ 0.