Gfeller Enterprises began fiscal 2010 with the following shareholders equity information: Common stock shares issued 39,598,900,

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Gfeller Enterprises began fiscal 2010 with the following shareholders’ equity information:
Common stock shares issued 39,598,900, $ 0.01 par value, paid-in capital in excess of par value, $ 640,078,000.
• Retained earnings deficit balance, ($ 25,436,000).
• Treasury stock shares held 2,549,041, cost $ 38,235,615.
During the period, Gfeller issued 15,000 shares for $ 16.50 per share and reissued 188,549 treasury stock shares at $ 19.00 per share. Gfeller had a net income of $ 77,508,000 during fiscal 2010 and declared dividends of $ 23,719,000. Determine the ending balances of the shareholders’ equity accounts.
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...
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