What is the par value of the common stock

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Problem - For a recent 2-year period, the balance sheet of Sarasota Company showed the following stockholders' equity data at December 31 (in millions).


2017

2016

Additional paid-in capital

$ 980

$ 827

Common stock

657

651

Retained earnings

7,250

5,320

Treasury stock

1,672

864

   Total stockholders' equity

$7,215

$5,934




Common stock shares issued

219

217

Common stock shares authorized

500

500

Treasury stock shares

38

27

(a) Answer the following questions.

(1) What is the par value of the common stock?

(2) What is the cost per share of treasury stock at December 31, 2017, and at December 31, 2016?

(b) Prepare the stockholders' equity section at December 31, 2017.

Reference no: EM131621758

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