Reference no: EM132187493
Question - Use the following information to answer questions.
Roberto Corporation was organized on January 1, 2018. The firm was authorized to issue 100,000 shares of $5 par value common stock. During 2018, Roberto had the following transactions relating to stockholders' equity:
Issued 10,000 shares of common stock at $7 per share
Issued 20,000 shares of common stock at $8 per share
Reported a net income of $100,000
Declared and paid dividends of $50,000
Purchased 3,000 shares of treasury stock at $10 per share
What is total paid-in capital at the end of 2018?
a. $260,000.
b. $150,000.
c. $180,000.
d. $230,000.
What is the balance of stockholders' equity at the end of 2018?
a. $200,000.
b. $250,000.
c. $270,000.
d. $300,000.
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