For a recent 2-year period, the balance sheet of Franklin Company showed the following stockholders?? equity data

Question:

For a recent 2-year period, the balance sheet of Franklin Company showed the following stockholders?? equity data at December 31 in millions.

Instructions(a) Answer the following questions.(1) What is the par value of the common stock?(2) What is the cost per share of treasury stock at December 31, 2013, and at December 31, 2012?(b) Prepare the stockholders?? equity section at December 31,2013.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...