Mountainview Corporation reported the following accounts:

Requirements
1. Prepare the stockholders€™ equity section of Mountainview€™s balance sheet.
2. What was the average selling price of each commonshare?

$ 60,500 Accounts payable 90,000 Retained carnings Uncarned revenue 180,000 Total assets 22,500 Long-term note payable Cost of goods sold Paid-in capital in cxcess of par Common stock, $ 3 par valuc, 60,000 shares issucd Cash 6,500 18,000 5,300 7,700