Analyze equity section of balance sheet. (LO 1, 2, 3, 5)

The following information was shown on the recent comparative balance sheets for Paul's Dot-Com Company.

Net income for the year ended December 31, 2006, was \(\$ 75,000\).
\section*{Required}

a. How many shares of common stock were issued to new shareholders during 2006 ?

b. What was the average issue price of the stock issued during 2006 ?

c. What was the amount of dividends declared during 2006 ?

d. Did the company have any treasury shares at the end of 2006 ?

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Common stock ($1 par) Additional paid-in-capital Retained earnings Total shareholders' equity December 31, 2006 $520,000 326,000 December 31, 2005 $400,000 296,000 65,000 50,000 $911,000 $746,000