17, 18, 19

7. Use the following information to answer the next questions. Snead Corporation was organized on January 1,201, with 400,000 share of $6 par common stock authorized. During 20x1, the corporation had the following transactions: January5April6June5July28Issued150,000shares@$10pershareIssued50,000shares@$12pershareissueda20%sthckdividendwhenthemarketpricewas$10Purchased20,000sharesastreasurystock@$11pershare December 31 Sold 10,000 shares of treasury stock @ \$13 per share Snead reported net income of $625,000 and paid dividends of $200,000 in 201. How many shares are issued on December 31,201 ? 18. Refer to question 17. How many shares are outstanding on December 31,201 ? A. 400,000 B. 230,000 C. 210,000 D. 200,000 E. 240,000 19. Total Paid in Capital on December 31,201 is A. $2,300.000 B. $980,000 C. $950,000 D. $2,520,000 E. $1,050,000