Reference no: EM132440818

Question - At December 31, the records of Nortech Corporation provided the following selected and incomplete data:

Common stock (par $1; no changes during the current year).

Shares authorized, 500,000.

Shares issued, ?; issue price $19 per share.

Common Stock account, $170,000.

Shares held as treasury stock, 2,700 shares, cost $17 per share.

Net income for the current year, $100,380.

Dividends declared and paid during the current year, $36,806.

Retained Earnings balance, beginning of the year, $152,000.

Required: Complete the following: TIP: To determine the number of shares issued, divide the balance in the Common Stock account by the par value per share.