Question: ABC has a corporate charter that authorizes it to issue up to 100,000 shares of $1 par value common stock. The following events occur

ABC has a corporate charter that authorizes it to issue up to  100,000 shares of $1 par value common stock. The following events occur in 2022: On January 1, ABC issues 10,000 shares of common stock 

ABC has a corporate charter that authorizes it to issue up to 100,000 shares of $1 par value common stock. The following events occur in 2022: On January 1, ABC issues 10,000 shares of common stock for $20 per share. On April 1, ABC declares a dividend of $2 per share. On May 1, the dividend is paid. On September 1, ABC repurchases 1,000 shares of its common stock for $15 per share. On October 1, ABC declares another $2 per share dividend. On November 1, the dividend is paid. ABC had $50,000 in net income for the year. What is the balance in Common Stock, Par Value as of December 31, 2022? If the amount increases equity, enter it as a positive number. If the amount decreases equity, enter it as a negative number. Enter your numbers with no dollar signs and no commas. For example, if the answer is $21,000, enter 21000. What is the balance Additional Paid in Capital (i.e. Capital in Excess of Par) as of December 31, 2022? 2 pts If the amount increases equity, enter it as a positive number. If the amount decreases equity, enter it as a negative number. Enter your numbers with no dollar signs and no commas. For example, if the answer is $21,000, enter 21000. By how much does the declaration and payment of dividends during 2022 decrease net income for ABC? If the amount increases income, enter it as a positive number. If the amount decreases income, enter it as a negative number. Enter your numbers with no dollar signs and no commas. For example, if the answer is $21,000, enter 21000.

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