Problem 7 Common stock, $2 par, 5,000,000 shares authorized all shares issued for $10 cash each Shares held as treasury stock, 8,000 shares at a cost of $15 each Net income for the current year Dividends of $1 per share were declared and paid Beginning RE REQUIRED: Please answer the following: 1. Shares issued 2. Shares outstanding 3. Balance in APIC 4. Total dividends declared and paid 5. Balance in the treasury stock account 6. Ending balance in retained earnings