The following information was shown on the recent comparative balance sheets for Snipes Couriers, Inc.:

Net income for the year ended June 3, 2011, was $42,000.

Requirements
1. How many shares of common stock were issued to new shareholders during the year ended June 30, 2011?
2. What was the average issue price of the stock issued during the year ended June 30, 2011?
3. What was the amount of dividends declared during the year ended June 30, 2011?
4. Can you tell if the company had any treasury shares at June 30,2011?

June 30, 2011 $250,000 300,000 89,000 June 30, 2010 Common stock ($5 par) Additional paid-in-capital Retained earnings Total shareholders' equity $100,000 60,000 68,000 $228,000