Assignment Accounting 102

The following items were shown on the balance sheet of Westwind Corporation on December 31, 2017:

Stockholders' Equity

Paid-In Capital

Capital Stock

Common stock, $5 par value, 400,000 shares

authorized; ______ shares issued and ______ outstanding $1,850,000

Additional paid-in capitalIn excess of par 165,000

Total paid in capital 2,015,000

Retained Earnings 750,000

Total paid-in capital and retained earnings 2,765,000

Less: Treasury stock (18,000 shares) 180,000

Total stockholders' equity $2,585,000

Complete the following statements.

(a)The number of shares of common stock issued was shares

(b)The number of shares of common stock outstanding was shares

(c)The sales price of the common stock when issued was $

(d)The cost per share of the treasury stock was$per share

(e)The average issue price of the common stock was(Round to 2 decimal places, e.g. 5.25) $ per share

(f)Assuming that 25% of the treasury stock is sold at $20 per share, the balance in the Treasury Stock account would be $