At December 31, 2009, Orange Cleaning Supplies Company reported the following on its comparative balance sheet, which included 2008 amounts for comparison:

Requirements
1. What is the par value of the company’s common stock?
2. Did the company issue any new shares during the fiscal year ended December 31, 2009?
3. What was the approximate (average) issue price of the stock issued during the year ended December 31, 2009?
4. Did Orange Cleaning Supplies Company earn net income (loss) during the year ended December 31, 2009? Assuming no dividends were paid this year, what was net income(loss)?

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December 31 2009 2008 Common stock Authorized: 5,000 shares Issued: 2,900 shares in 2009 $29,000 $28,000 5,780 28,600 2,800 shares in 2008 Paid-in capital in excess of par Retained earnings 8,700 30,100