2 Stockholders' equity *** The stockholders' equity of Embassy Corporation at December 31, 2012, is shown below. Embassy Corporation Balance Sheet as at December 31, 2012 $ Stockholders' equity Common stock, $10 par, 100,000 shares authorized, 40,000 shares issued and outstanding 400,000 Additional paid-in capital: common stock 200,000 Total paid-in capital 600,000 Retained earnings 1,700,000 Total stockholders' equity 2,300,000 Transactions affecting stockholders' equity during 2013 are as follows: Mar 31 A 5-for-4 stock split proposed by the board of directors was approved by vote of the stockholders. Apr 1 The company purchased 2,000 shares of its common stock on the open market at $37 per share. Jul 1 The company re-issued 1,000 shares of treasury stock at $48 per share