Question

At December 31, 2014, the records of Duo Corporation provided the following selected and incomplete data:
Common stock (par $1; no changes during the year).
Shares authorized, 5,000,000.
Shares issued, ? ; issue price $80 per share.
Shares held as treasury stock, 100,000 shares, cost $60 per share.
Net income, $4,800,000.
Common stock account, $1,500,000.
Dividends declared and paid, $2 per share.
Retained earnings balance, January 1, 2014, $82,900,000.

Required:
1. Complete the following tabulation:
Shares issued _____ .
Shares outstanding _____ .
2. The balance in the Capital in Excess of Par account appears to be $ _____ .
3. EPS on net income is $ _____ .
4. Total dividends paid on common stock during 2014 is $ _____ .
5. Treasury stock should be reported on the balance sheet under the major caption _____ in the amount of $ _____ .



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  • CreatedJuly 01, 2014
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