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Explain the amount of treasury stock

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Reference no: EM13496286

At December 31st, 2011, the records at a corporation provided the following selected and incomplete data:

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

Shares authorized, 3,000,000


Shares issued,  issue price $65 per share

Shares held as treasury stock, 85,000 shares, cost $40 per share

Net income, $3,700,000



Common stock account, $1,400,000


Dividends declared and paid; $2 per share.

Retained Earnings balance, January 1, 2011, $74,700,000





Find the following:

(a)   the shares issued

(b)   the shared outstanding

(c)   the balance in the Capital in Excess of par account

(d)   the EPS on net income

(e)   The total dividends paid on common stock during 2011

(f)    The amount of treasury stock

Reference no: EM13496286

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