12/31/03 had the following balances in its S.E section of the B.S:

Common Stock, $.50 par $300k

APIC - Common Stock $4 million

APIC - Share Repurchase $50k

R.E $2 million

Treasury Stock, at cost, 30k shares $(600k)

During 2004 completed the following transactions:

2/20: Issued40k shares of common stock (with a $.50 par value) in exchange for a machine w/ an appraised value of $800k

6/17: Resold 15k shares of treasury stock for $240k (The treasury stock was resold relates to common stock that was originally issue for $18 per share & was reacquired for $20 per share during 2003.)

12/2: Issued 10k shares of common stock for $24 per share. Share issue costs to promote the stock issuance totaled $15k

12/31: Reported NI of $1.5 million and other comprehensive income of $200k on the company's statement of comprehensive income.

Using the info provided above, what would they report within its 12/31/2004 S.E section of the B.S.

Provide the following amounts as they would appear in the B.S at 12/31/2004.

#1: APIC - Common Stock __________

#2: Retained Earnings __________

#3: Treasury Stock __________

#4: Common Shares Issued __________

Answer rating: 100% (QA)

Common Stock APIC Common Stock APIC Share Repurchase Retained ... View the full answer