Problem: The equity portions of a company's balance sheets for end of 2022 and 2023 are shown below:
2022 2023
Common Stock ($0.50 par) $2,268,566 $3,729,028
Capital Surplus $1,067,967 $5,223,225
Retained Earnings $2,005,277 $6,911,362
Calculate the average price per share at which new shares were sold in 2023.
Group of answer choices
- $0.75
- $1.42
- None of these options are correct
- $0.50
- $1.92