The shareholders equity section of Valade Corp’s balance sheet is:
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|
2006
|
2005
|
|
Preferred stock (8%, $50 par value)
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$300,000
|
$150,000
|
|
Common stock ($10 par value, 80,000 shares
|
|
|
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Authorized, 80,000 shares issued ,
|
10,000
|
|
|
Shares treasury
|
800,000
|
650,000
|
|
Additional paid in capital
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|
|
|
Preferred stock
|
200,000
|
175,000
|
|
Common stock
|
525,000
|
300,000
|
|
Retained earnings
|
679,000
|
505,000
|
|
Less: Treasury stock
|
150,000
|
|
|
Total shareholders equity
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$2,654,000
|
$1,780,000
|
a. how many shares of common stock were issued during 2006? What was there average issue price?
b. how many shares of preferred stock were issued during 2006? What was their average issue price?
c. give the entry for the company’s purchase of treasury stock. What was the average repurchase price?
d. what was the company’s book value at the end of 2005?2006?The shareholders equity section of Valade Corp’s balance sheet is: