The equity section of the balance sheet for Hilton Web-Cams looks like this:
Common Stock. $.25 par $400,000
Paid in Capital in excess of par $4,500,000
Retained earnings $1,100,000
a. How many shares has the company issued?
b. What is the book value per share?
c. Suppose that Hilton Web-Cams has made only one offering of common stock. At what price did it sell shares to the market?