Saigon Building Supply was organized and began operations on January 1, 2004. At December 31, 2005, it reported the following stockholders’ equity section on its comparative balance sheet.

The company reported net income of $75,000 for calendar year 2004 and $125,000 for 2005. The firm’s dividend policy is to pay out 10% of its profits each year in dividends. The date of payment is always April 1 of the following year. Treasury stock was acquired at a cost of $12 per share in 2004. At December 31, 2005, the average cost of treasury stock was $13.50 per share. The common shares sold during 2005 were sold at $14 each.

Required
Replace each of the italicized letters with the correct numericalvalue.

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December 31, 2005 2004 Stockholders' equity 8.5% preferred stock, $10 par value, 10,000 shares authorized and issued Common stock, $2 par value, 300,000 shares authorized 110,000 and 90,000 shares issued Paid-in capital in excess of par value Retained earnings Treasury stock (4,500 and 3,100 shares at cost) Total stockholders' equity $1,411,750 $1,037,800