(Analysis of Equity Data and Equity Section Preparation) For a recent 2-year period, the bal-
4) ance sheet of Santana Dotson 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, 2007, and at December 31, 2006?

(b) Prepare the stockholders’ equity section at December 31, 2007.

2007 Additional paid-in capital $ 931 2006 $ 817 Common stock-par 545 540 Retained earnings Treasury stock 7,167 5,226 1,564 918 Total stockholders' equity $7,079 $5,665 Common stock shares issued 218 216 Common stock shares authorized 500 500 Treasury stock shares 34 27