Only Need to answer 5-8 Please use excel and show the work!

Packet Exercise 11.3 (Stockholders' Equity) Use the information below to answer the questions. Steelers Inc. Statement of Stockholders' Equity 12/31/2020 Common Stock (9.50 par) $450,000 Additional Paid-in Retained Capital Earnings $750,000 $900,000 (45,000) Beg Balance 1/5 Cash Dividends 3/7 Treasury Stock Purchase 4/30 New Stock Issue 6/15 Reissue Treasury Stock 12/31 Net Income Ending Balance Total Treasury Stockholders' Stock Equity $0 $2,100,000 (45,000) (50,750) (50,750) 137.000 17,400 16,560 195,000 $(33,350) $2.352.810 50,000 87,000 (840) 195,000 $836,160 $1,005,000 $500,000 The Common Stock has a par value of $0.50 per share. The Treasury Stock purchase on 3/7 consisted of purchasing 35,000 shares at the market price. On 6/15, a portion of the Treasury shares were re-issued to acquire additional capital. 1. How many shares of Common Stock were outstanding as of the beginning of the year? 2. What was the amount of the cash dividend per share paid on 1/5/2020? Would the per share amount be different if the dividend had been paid later in the year? 3. How many shares of Common Stock were outstanding as of 3/8/2020? 4. What was the market price per share of the Common Stock on 4/30? 5. What was the market price (per share) of the stock when the shares were purchased by the company on 3/7/2020? 6. On 6/15 the company reissued some of its treasury stock. a. What entry was made when the treasury shares were reissued (assume the APIC account balance includes APIC-T/S)? 6. How many shares of the treasury stock were reissued? c. What was the market price, per share of the common stock on the date the treasury shares were reissued (6/15/2020)? 7. Is Treasury stock a different kind of stock than common stock? 8. How many shares of Common Stock were outstanding as of the end of the year? 1. No. of share of common stock (at Beginning) = $450,000 / 0.50 = 900,000 shares 45000 2. Dividend per share on 1/5/2020: 900000 $ 0.05 per share Yes, Dividend per share amount would be different because new shares were issued on 4/30 and dividend is issued on number of shares outstanding on record date. 3. No. of share of common stock (on 3/8/2020) is still 900,000 shares. Treasury stock purchased on 3/7 has no relevance with respect to no. of shares of common stock. 50000 = 100,000 shares 4. New shares issued on 4/30: .50 50000+87000 Market price per share of Common Stock on 4/30: 100000 - $ 1.37 per share