ABC Company has the following beginning balances in its stockholders' equity accounts on January 1, 2021: Common Stock ($2 par value), $1,000; Additional Paid-in Capital, $4,200; Retained Earnings, $28,000; Total Stockholders' equity, $33,200. ABC Company has the following transactions affecting stockholders' equity in 2021:

May		18		Issues 160 additional shares of $2 par value common stock for $15 per share.
May		31		Purchases 50 shares of treasury stock for $35 per share.
July		1		Declares a cash dividend of $3 per share to all stockholders of record on July 15. Hint: Dividends are not paid on treasury stock.
July		31		Pays the cash dividend declared on July 1.
August		10		Resells 30 shares of treasury stock purchased on May 31 for $55 per share.
December		31		Net income for the year ended December 31, 2021, is $700.

Required:

How many shares of common stock have been issued in total?

multiple choice 1

• 660

• 1160

• 610

• 1110

What is the balance of Retained Earnings on December 31, 2021?

multiple choice 2

• $26,870

• $25,370

• $25,220

• $28,370

What is the (debit) balance of the Treasury Stock account on December 31, 2021?

multiple choice 3

• $700

• $100

• $1,100

• $1,750

What is the balance of Additional Paid-in Capital on December 31, 2021?

multiple choice 4

• $6,880

• $5,680

• $6,000

• $5,120

How is the number of outstanding shares on December 31, 2021?

multiple choice 5

• 640

• 1,140

• 140

• 1,020