Best Incorporated Balance Sheet (partial) At December 31, Year 6 Stockholders' Equity: Preferred stock (par $100)...

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Question

Best Incorporated Balance Sheet (partial) At December 31, Year 6 Stockholders' Equity: Preferred stock (par $100)...

Best Incorporated

Balance Sheet (partial)

At December 31, Year 6

Stockholders' Equity:

Preferred stock (par $100)

$300,000

Common stock (par $0.01)

1,000

Additional Paid in capital

1,811,000

Total paid in capital

2,112,000

Retained earnings

565,200

Treasury stock (3,000 common shares)

(66,000)

Total stockholders' equity

$2,611,200

Assume that the company sold 1,000 shares of its treasury stock for $25

per share.

7. How much would additional paid in capital change? $_______

8. How much would Stockholders’ Equity change? $_______

9. How many shares of Commons stock would be

issued after the reissuance? _______ shares

10.How many shares of Common stock would be outstanding after the reissuance?

_______ shares

business accounting

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