At December 31, 2014, the records of Duo Corporation provided the following selected and incomplete data: Common

Question:

At December 31, 2014, the records of Duo Corporation provided the following selected and incomplete data:

Common stock (par $1; no changes during the year).

Shares authorized, 5,000,000.

Shares issued, ? ; issue price $80 per share.

Shares held as treasury stock, 100,000 shares, cost $60 per share.

Net income, $4,800,000.

Common stock account, $1,500,000.

Dividends declared and paid, $2 per share.

Retained earnings balance, January 1, 2014, $82,900,000.

Required:

1. Complete the following tabulation:

Shares issued _____ .

Shares outstanding _____ .

2. The balance in the Capital in Excess of Par account appears to be $ _____ .

3. EPS on net income is $ _____ .

4. Total dividends paid on common stock during 2014 is $ _____ .

5. Treasury stock should be reported on the balance sheet under the major caption _____ in the amount of $ _____ .

Common Stock
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