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Sagebrush Software had the following selected account balances at December 31, 20X6 (in thousands, except par value per share). Prepare the stockholders' equity section of Sagebrush Software's balance sheet (in thousands).
Inventory
$ 653
Common stock, $0.25 par per share, 800 shares authorized, 360 shares issued
$ 90
Property, plant, and equipment, net
857
Retained earnings
2,202
Paid-in capital in excess of par
901
Accounts receivable, net
600
Treasury stock, 120 shares at cost
1,380
Notes payable
1,122
Other stockholders' equity
(729)
How can Sagebrush have a larger balance of treasury stock than the sum of Common Stock and Paid-in Capital in Excess of Par?
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