Reference no: EM13867261

At December 31, the records of Seacrest Enterprises provided the following selected and incomplete data:

Common stock (par $ 1; no changes during the current year). Shares authorized 10,000,000.

Shares issued? Issue price $ 10 per share.

Shares held as treasury stock, 50,000 shares, cost $ 11 per share. Net income for the current year, $ 1,400,000

Common Stock account, $ 750,000. Dividends declared and paid during the current year, $ 1 per share. Retained Earnings balance, beginning of year, $ 36,400,000.

Required:

1. Complete the following: Shares issued _____.  Shares outstanding _____.

2. The balance in Additional Paid-in Capital would be $ _____.

3. Earnings per share is $ _____. Round your answer to two decimal places.

4. Total dividends paid on common stock during the current year is $ _____.

5. Treasury stock should be reported in the stockholders quity section of the balance sheet in the amount of $ _____.

6. Assume that the board of directors voted a 2-for-1 stock split. After the stock split, the par value per share will be $ _____.