Sunland’s Total Stockholders Equity Assignment

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On December 1, 2018, Sunland Company exchanged 55500 shares of its $10 par value common stock held in treasury for a used machine. The treasury shares were acquired by Sunland at a cost of $35 per share, and are accounted for under the cost method. On the date of the exchange, the common stock had a fair value of $50 per share (the shares were originally issued at $25 per share). As a result of this exchange, Sunland's total stockholders' equity will increase by
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$2220000.
$ 555000.
$1942500.
$2775000.

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