(L02,4) (Analysis of Equity Data and Equity Section Preparation) For a recent 2-year period, the balance sheet of Santana Dotson Company showed the following stockholders’ equity data at December 31 (in millions).

Instructions

(a) Answer the following questions.
(1) What is the par value of the common stock?
(2) What is the cost per share of treasury stock at December 31, 2017, and at December 31, 2016?

(b) Prepare the stockholders’ equity section at December 31, 2017.

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2017 Additional paid-in capital Common stock Retained earnings Treasury stock Total stockholders' equity $ 931 545 7,167 2016 $ 817 540 5,226 1,564 918 $7,079 $5,665 Common stock shares issued 218 216 Common stock shares authorized 500 500 Treasury stock shares 34 27