Reference no: EM132825552

Following is the stockholders' equity section of a recent balance sheet for Portlands, Inc.:

Stockholders' Equity:

Preferred stock, $0.01 par value, authorized shares - 100,000, issued shares - none -

Common stock, $1.25 par value, authorized shares, - 400,000, issued shares - 241,764  $ 302,205

Capital in excess of par 604,410

Retained earnings 5,840,053

Accumulated other comprehensive loss (100,304)

Common stock in treasury, at cost - 75,000 shares (2,647,500)

Total stockholders' equity $ 3,998,864

Problem a. Verify the $302,205 balance for the common stock account.

Problem b. What was the average issue price for the common shares issued?

Problem c. How many common shares are outstanding as of year-end?

Problem d. What was the average cost at which the treasury stock was purchased?