A corporate charter specifies that the company may sell up to 36 million shares of stock. The company sells 28 million shares to investors and later buys back 11.0 million shares. The number of authorized shares after these transactions are accounted for is: Multiple Choice 17 million shares. 36 million shares. 28 million shares 28 million shares 25 million shares Columbia Clay, Inc. issues 1.11 million shares of preferred stock with a par value of $7.50 at its market price of $31.50 per share. The issuance should be recorded with a debit to Cash for: Multiple Choice $34.97 million and a credit to Preferred Stock for $34.97 million. $34.97 million, a credit to Preferred Stock for $8.33 million, and a credit to Additional Paid-in Capital for $26.64 million. $26.64 million, a credit to Additional Paid-in Capital for $8.33 million, and a credit to Preferred Stock for $34.97 million. $8.33 million and a credit to Preferred Stock for $8.33 million. Barbur, Inc. reported net income of $12.5625 million. During the year the average number of common shares outstanding was 3.35 million. The price of a share of common stock at the end of the year was $5. There were 540,000 shares of preferred stock outstanding on average and no dividends were declared and the preferred stock is noncumulative. The Price/Earnings Ratio approximately: Multiple Choice d 6.65. 3.75 O 1.33 4.59 Pettygrove Company had 2,100,000 shares of $10 par value common stock outstanding. The amount of additional paid-in capital is $10,500,000, and Retained Earnings is $3,150,000. The company issues a 2-for-1 stock split. The market price of the stock is $11. What is the balance in the Common Stock account after this issuance? Multiple Choice o $44,100,000 $31,500,000 $42,000,000 O O $21,000,000 A corporate charter specifies that the company may issue up to 39 million shares of stock. The company sells 31 million shares to investors and later buys back 12.5 million shares. The current number of shares of treasury stock after these transactions have been accounted for is: Multiple Choice 8.0 million shares. O O 19.0 million shares. O 12.5 million shares. O O 27.0 million shares A corporate charter specifies that the company may issue up to 39 million shares of stock. The company sells 31 million shares to investors and later buys back 12.5 million shares. The current number of shares of treasury stock after these transactions have been accounted for is: Multiple Choice 8.0 million shares. O O 19.0 million shares. O 12.5 million shares. O O 27.0 million shares