The Balance in Treasury Stock on January 1, 2011 and December

Multiple Choice

The balance in Treasury Stock on January 1, 2011 and December 31, 2011 is, respectively, $55,500 and $81,700. During the year, $58,500 of treasury stock was purchased. During the year, treasury stock was sold for $1,300 over its cost. The proceeds from the sale of treasury stock amounted to:

A) $33,600.
B) $32,300.
C) $31,000
D) $31,000.