The stockholders equity section on the December 31 balance sheet
The stockholders’ equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts:
Assume that no shares of treasury stock have been sold in the past.
Required:
Complete the following statements and show your computations.
1. The number of shares of preferred stock issued was ____.
2. The number of shares of preferred stock outstanding was ____.
3. The average issue price of the preferred stock was $ per share ____.
4. The average issue price of the common stock was $ ____.
5. The treasury stock transaction increased (decreased) stockholders’ equity by ____.
6. The treasury stock cost $ per share ____.
7. Total stockholders’ equity is $ ____.
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