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7. Ma Excess, Inc.'s corporate charter allows it to sell 100,000 shares of $1 par value common stock During 2019, its first year of

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7. Ma Excess, Inc.'s corporate charter allows it to sell 100,000 shares of $1 par value common stock During 2019, its first year of business, it sold 20,000 shares of its common stock at 59 per share. Net income for 2019 was $13,000 and dividends of $2,000 were declared. It repurchased 200 shares of its stock for $10 per share. Fill in the missing amounts in the spaces provided for both the statement of changes in shareholders' equity and the shareholders' equity section of the balance sheet. $1 par value common stock $0 Additional paid-in capital in excess of par $0 Retaine d Treasury stock earning S $0 $(0) January 1, 2019 balances 1. Sold 20,000 shares of $1 par value common stock for $9 per share 2. Repurchased 200 shares of its own stock for $10 per share 3. Net income 4. Dividends 5. December 31, 2019 balances Common stock, 6., par value, 7. shares authorized, 8. shares issued 9. Additional paid-in capital in excess of par Retained earnings 10. 11. Treasury stock Total shareholders' equity 12. 13. December 31, 2019 14. How many common stock shares are outstanding as of December, 31, 2019?

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