E$11-6($Algo$)$ Finding Amounts Missing from the Stockholders' Equity Section LO$11-1,11-3,11-7$

Assume that the stockholders' equity section on the balance sheet of Mangum's, a popular department store, is shown below. During the year, the company reported net income of $$241,145,000$ and declared and paid dividends of $$11,903,000.$

Stockholders$$ Equity: Current Year Last Year

Common stock, Class A$116,730,308$ and $116,595,495$ shares issued; $?$ and $?$ shares outstanding $ $1,167,000$ $ $1,166,000$

Common stock, Class B $($convertible$)4,050,929$ shares issued and outstanding $41,00041,000$

Additional paid$-$in capital $777,055,000786,987,000$

Retained earnings $2,487,727,000?$

Less treasury stock, at cost$,$ Class A$47,146,748$ and $45,450,148$ shares $(1,882,581,000)(937,560,000)$

Required:

What is the par value of Magnum's Class A common stock?

How many shares of Class A Common Stock were outstanding at the end of last year and the end of the current year?

What amount was reported in the Retained Earnings account at the end of last year?

How is the dollar amount in the treasury stock account at the end of the current year reflected on the asset side of the balance sheet?

During the current year, by what amount did treasury stock transactions increase or decrease stockholders' equity?

At the end of the current year, what was the average price paid per share for shares held in treasury stock?