Analyze equity section of balance sheet.
The following information is from the equity sections of the comparative balance sheets for Wildwood Company.
|
|
December 31,
2007
|
December 31,
2006
|
|
Common stock ($10 par)
|
$420,000
|
$400,000
|
|
Additional paid-in-capital
|
326,000
|
306,000
|
|
Retained earnings
|
55,000
|
51,000
|
|
Total shareholders' equity
|
$801,000
|
$757,000
|
Net income for the year ended December 31, 2007, was $70,000.
Required
a. How many shares of common stock were issued to new shareholders during 2007?
b. What was the average issue price of the stock issued during 2007?
c. What was the amount of dividends declared during 2007?
d. Did the company have any treasury shares at the end of 2007?