Reference no: EM132803167

The following information pertains to JAE Corp. at January 1, 2018:

Common stock, $12 par, 15,000 shares authorized, 3,000 shares issued and outstanding $36,000

Paid-in capital in excess of par, common stock 15,800

Retained earnings 55,000

JAE Corp. completed the following transactions during 2018:

1. Issued 1,100 shares of $12 par common stock for $26 per share.
2. Repurchased 160 shares of its own common stock for $23 per share.
3. Resold 50 shares of treasury stock for $24 per share.

Required:

Problem 1: How many shares of common stock were outstanding at the end of the period?

Problem 2: How many shares of common stock had been issued at the end of the period?