Question
39 2.5 pts The balance sheet of Pike Industries included the following shareholders' equity section at December 31, 2021 ($ in millions): Common stock ($1
39 2.5 pts The balance sheet of Pike Industries included the following shareholders' equity section at December 31, 2021 ($ in millions): Common stock ($1 par value, authorized 150M shares, issued and outstanding 135M shares) Paid-in capital-excess of par Paid-in capital-share repurchase Retained earnings $135 $1620 $4 $420 On January 5, 2022, Pike purchased and retired 2 million shares for $20 million ($10 per share). Immediately after the purchase of the shares, the balances in the paid-in capital-excess of par and retained earnings accounts are: $1,596 and $426 respectively. $1,596 and $422 respectively. $1,596 and $420 respectively. $1,600 and $422 respectively
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