The stockholders€™ equity of All-Star Uniforms as of December 31, 2012 and 2011 follows:

Requirements
1. What is the par value of the common stock?
2. How many shares of common stock were outstanding at the end of 2012?
3. As of December 31, 2012, what was the average price that stockholders paid for all common stock when issued?
4. Prepare a summary journal entry to record the change in common stock during the year.
5. What was the average price that stockholders paid for the common stock issued in 2012?
6. What was the average price paid by All-Star for the treasury stock?
7. Prepare a summary journal entry to record the change in treasury stock during the year.
8. Assuming net income for 2012 was $10,000,000, prepare a summary journal entry to record the dividends declared during2012.

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2012 2011 Common stock, 2,000,000 shares authorized, 1,000,000 and 950,000 shares issued, respectively Paid-in capital in excess of par Paid-in capital-treasury stock transactions Retained earnings Treasury stock, at cost, 20,000 and 25,000 shares, respectively Total stockholders' equity S 100,000 95,000 39,980,000 37,905,000 50,000 67,000,000 60,000,000 (792.000 (990.000) $106,343,000 $97,060,000 55,000