Reference no: EM132840835

Question - Following is the stockholders' equity section of a recent balance sheet for Portlands, Inc.:

Stockholders' Equity:

Preferred stock, $0.01 par value, authorized shares - 100,000, issued shares - none -

Common stock, $1.25 par value, authorized shares, - 400,000, issued shares - 241,764 $302,205

Capital in excess of par 604,410

Retained earnings 5,840,053

Accumulated other comprehensive loss (100,304)

Common stock in treasury, at cost - 75,000 shares (2,647,500)

Total stockholders' equity $3,998,864

Required -

a. Verify the $302,205 balance for the common stock account.

b. What was the average issue price for the common shares issued?

c. How many common shares are outstanding as of year-end?

d. What was the average cost at which the treasury stock was purchased?