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What average cost were the treasury shares purchased

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Reference no: EM132488034

Following is the stockholders' equity section of the 2017 balance sheet for Waitsburg Company:

STOCKHOLDERS' EQUITY May 31 2017

Common stock: $0.45 par value, authorized 600,000 shares;

175,000 shares outstanding $ 85,500

Additional paid-in capital   532,000

Retained earnings  79,500

Treasury stock: 15,000 shares (180,000 )

Total stockholders' equity $517,000

Question a. Compute the number of shares issued at May 31, 2017.

Question b. At what average issue price were the shares issued?

Question c. At what average cost were the treasury shares purchased?

Reference no: EM132488034

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