The Corners Corporation experienced three events that affected its financial statements, as shown in the following table. Assume that the original issue (Entry 1) Awas for 400,000 shares, and the treasury stock was acquired for $4 per share (Entry 2).

Required
a. What was the sales price per share of the original stock issue?
b. How many shares of stock did the corporation acquire in Entry 2?
c. How many shares were reissued in Entry 3?
d. How many shares are outstanding immediately following Entries 2 and 3, respectively?

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Balance Sheet Income Statement Statement of Cash Flows Assets Stk. Equity PIC In Excess of Par PIC from + Treasury Stk. NA Treasury Stock = Net Inc. NA NA Cash = Com. Stk. + Rev. Exp. 600,000 + 200,000 NA 800,000 NA NA NA 800,000 FA (30,000) FA 25,000 FA (30,000) NA NA NA 30,000 NA (10,000) + 12,000 NA 2,000 NA NA NA NA