Please use the following data for the next Three questions: Richman Corporation has 120,000 shares of $5 par value common stock outstanding on Jan 1 2018. The shares had been issued at a price of $8 per share. In addition, the retained earnings balance on January 1, 2018 was $412,000 and the net income for the year was $88,000 The following transactions took place in 2018: June 1 Declared and paid a 10% stock dividend when the price per share was $12. June 30 Bought 5,000 shares at a price of $14 to hold in treasury December 1 Sold 3000 shares from Treasury for $13 per share December 15 Declared dividends of $1 per share to be paid on January 10 2019 17. On December 31, 2018 the common stock value at par would be: a) $660,000 b) $600,000 c) 625,000 d) 635,000 e) a-d are all false Financial Accounting Sample exam Fall 2019 18. On December 31, 2018 the Paid-in-Capital in excess of par would be: a) $360,000 b) $396,000 c) $444,000 d) $441,000 e) a-d are all false 19. On December 31, 2018 the Retained Earnings would be: a) $412,000 b) $500,000 c) $226,000 d) $224,000 e) a-d are all false Sarath