Reference no: EM132662897

At the end of the year, the records of NCIS Corporation provided the following selected and incomplete data:

Common stock ($10 par value); no changes in account during the year.

Shares authorized: 350,000.

Shares issued: _______ (all shares were issued at $20 per share; $2,200,000 total cash collected).

Treasury stock: 6,000 shares (repurchased at $16 per share).

The treasury stock was acquired after a stock split was announced.

Net income: $212,160.

Dividends declared and paid: $120,640.

Retained earnings beginning balance: $705,000.

Required:

Question 1: Calculate the balance in the Additional paid-in capital account.

Question 2: What is earnings per share (EPS)?

Question 3: What was the dividend paid per share?

Question 4: In what section of the balance sheet should treasury stock be reported? What is the amount of treasury stock that should be reported?

Question 5: Assume that the board of directors voted a 2-for-1 stock split. After the stock split, what will be the par value per share? How many shares will be outstanding?