Assume that the stockholders' equity section on the balance sheet of Mangum's, a popular department store, is shown below. During the year, the company reported net income of $241,225,000 and declared and paid dividends of $11,907,000 Stockholders' Equity: Current Year Last Year Common stock, Class A-116,740,388 and 116,455,495 shares issued; ? and ? shares outstanding $ 1,167,000 1,165,000 Common stock, Class B (convertible) 4,040,929 shares issued and outstanding 40,000 40,000 Additional paid-in capital 766,055,000 795,987,000 Retained earnings 2,617,727,000 7 Less treasury stock, at cost, Class A- 47,386,748 and 45, 470,148 shares (1,883,581,080) (939,560,000) Required: 1. What is the par value of Magnum's Class A common stock? 2. How many shares of Class A Common Stock were outstanding at the end of last year and the end of the current year? 3. What amount was reported in the Retained Earnings account at the end of last year? 4. How is the dollar amount in the treasury stock account at the end of the current year reflected on the asset side of the balance Sheet? 5. During the current year, by what amount did treasury stock transactions increase or decrease stockholders' equity? 6. At the end of the current year, what was the average price paid per share for shares held in treasury stock? Complete this question by entering your answers in the tabs below. Reg 1 Req2 Reg 3 Req 4 and 5 Regs What is the par value of Magnum's Class A common stock? (Round your answer to 2 decimal places) Par value of common stock Assume that the stockholders' equity section on the balance sheet of Mangum's, a popular department store, is shown below. Du the year, the company reported net income of $241,225,000 and declared and paid dividends of $11,907,000. Stockholders' Equity: Current Year Last Year Common stock, Class A-116,740,308 and 116,455,495 shares issued; ? and ? shares outstanding $ 1,167,600 $ 1,165,000 Common stock, Class B (convertible)- 4,848,929 shares issued and outstanding 40,000 40, ese Additional paid-in capital 766,055,000 Retained earnings 795,987,080 2,617, 727,000 2 Less treasury stock, at cost, Class A- 47,386,748 and 45,470,148 shares (1,883,581,600) (939,560,000) Required: 1. What is the par value of Magnum's Class A common stock? 2. How many shares of Class A Common Stock were outstanding at the end of last year and the end of the current year? 3. What amount was reported in the Retained Earnings account at the end of last year? 4. How is the dollar amount in the treasury stock account at the end of the current year reflected on the asset side of the balance sheet? 5. During the current year, by what amount did treasury stock transactions increase or decrease stockholders' equity? 6. At the end of the current year, what was the average price paid per share for shares held in treasury stock? Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 3 Raq 4 and 5 Reg 6 How many shares of Class A Common Stock were outstanding at the end of last year and the end of the current year? Current year Number of shares Rega > Required: 1. What is the par value of Magnum's Class A common stock? 2. How many shares of Class A Common Stock were outstanding at the end of fast year and the end of the current year? 3. What amount was reported in the Retained Earnings account at the end of last year? 4. How is the dollar amount in the treasury stock account at the end of the current year reflected on the asset side of the balance sheet2 S. During the current year, by what amount did treasury stock transactions increase or decrease stockholders equity? 6. At the end of the current year, what was the average price paid per share for shares held in treasury stock? Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 3 Req 4 and 5 Reg 6 What amount was reported in the Retained Earnings account at the end of last year? Retained caring > 5. During the current year, by what amount did treasury stock transactions increase or decrease stockholders' equity? 6. At the end of the current year, what was the average price paid per share for shares held in treasury stock? Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 3 Reg 4 and 5 Reg 6 4. How is the dollar amount in the treasury stock account at the end of the current year reflected on the asset side of the balance sheet? S. During the current year, by what amount did treasury stock transactions increase or decrease stockholders' equity? 4 Treasury stock account Rege > 2. How many shares of Class A Common Stock were outstanding at the end of last year and the end of the current year? 3. What amount was reported in the Retained Earnings account at the end of last year? 4. How is the dollar amount in the treasury stock account at the end of the current year reflected on the asset side of the balance sheet? 5. During the current year, by what amount did treasury stock transactions increase or decrease stockholders' equity? 6. At the end of the current year, what was the average price paid per share for shares held in treasury stock? Complete this question by entering your answers in the tabs below. Rag1 Reg 2 Rg3 Reg 4 and 5 Rea At the end of the current year, what was the average price paid per share for shares held in treasury stock? (Round your answer to 2 decimal places.) A propuid per share
