The financial statements for a company included the following information:
Common Stock
|
$1,750,000
|
Retained Earnings
|
$950,000
|
Net Income
|
$1,250,000
|
Shares Issued
|
110,000
|
Shares Outstanding
|
90,000
|
Dividends Declared and Paid
|
$900,000
|
The common stock was sold at a price of $30 per share.
Complete the following:
(a) What is the amount of capital in excess of par?
(b) What was the amount of retained earnings at the beginning of the year?
(c) How many shares are in treasury stock (Treasury shares)?
(d) Compute earnings per share