The statement of stockholders’ equity for Bailey Corporation follows.

Use Bailey Corporation’s statement to answer these questions:

1. How much cash did the issuance of common stock bring in during 2018?

2. What was the effect of the stock dividends on Bailey’s retained earnings? On total paid-in capital? On total stockholders’ equity? On total assets?

3. What was the cost of the treasury stock that Bailey purchased during 2018? What was the cost of the treasury stock that the company sold during the year? For how much did Bailey sell the treasury stock during 2018?

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A1 Bailey Corporation Statement of Stockholders' Equity For the Year Ended December 31, 2018 Accumulated Other Additional Paid-in Total Retained Treasury Comprehensive Stockholders' Equity $ 151,000 594,000 94,000 (21,000) Common Stock $2 Par $ 20,000 64,000 Capital Earnings Stock Income $ 19,000 $ 125,000 530,000 3 Balance, December 31, 2017 4 Issuance of stock 5 Net income 6 Cash dividends 7 Stock dividends–10% 8 Purchase of treasury stock 9 Sale of treasury stock 10 Other comprehensive income 11 Balance, December 31, 2018 12 $ (21,000) $ 8,000 94,000 (21,000) (58,000) 8,400 49,600 (10,000) 3,000 (10,000) 9,000 3,750 $ 820,750 6,000 3,750 $ 11,750 $ 604,600 $ 140,000 $ (28,000) $ 92,400