What is the amount of capital in excess of par

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The financial statements for Highland Publications Corporation included the following selected information:

Common Stock $1,600,000

Retained earnings - end of year $900,000

Net Income $1,000,000

Shares issued 90,000

Shares outstanding 80,000

Dividends declared and paid $800,000

Paid in Capital ??

The common stock was sold at a price of $20 per share

Problem a. What is the amount of capital in excess of par?

(Hint: Cash received = Common Stock + PIC)

Problem b. What was the amount of retained earnings at the beginning of the year?

Problem c. How many shares are in treasury stock?

Problem d. Compute earnings per share.

Reference no: EM132957132

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