Specialties, Inc., reported the following statement of stockholders’ equity for the year ended October 31, 2021: 

Requirements

Answer these questions about Patterson’s stockholders’ equity transactions. 

1. What is the par value of the company’s common stock? 

2. At what price per share did Patterson issue its common stock during the year?

3. What was the cost of treasury stock sold during the year? What was the selling price of the treasury stock sold? What was the increase in total stockholders’ equity?

4. Patterson’s statement of stockholders’ equity lists the stock transactions in the order in which they occurred. What was the percentage of the stock dividend? Round to the nearest percentage. (Ignore treasury stock in answering this question.)

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1 A1 23456789 A Patterson Specialties, Inc. Statement of Stockholders' Equity For the Year Ended October 31, 2021 2 (In millions) Balance, October 31, 2020 Net income Cash dividends Issuance of stock (100 shares) Stock dividend Sale of treasury stock 10 Balance, October 31, 2021 11 B Common Stock $ 400 50 45 $495 Additional Paid-in Capital $ 1,680 220 170 18 $ 2,088 D Retained Earnings $ 906 360 (193) (215) $858 Treasury Stock $ (113) 14 $(99) Total $ 2,873 360 (193) 270 32 $3,342