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At December 31, 2013, the records of Kozmetsky Corporation provided the following selected and incomplete data: Common stock (par $2; no changes during 2013). Shares
At December 31, 2013, the records of Kozmetsky Corporation provided the following selected and incomplete data: Common stock (par $2; no changes during 2013). Shares authorized, 5,000,000. Shares issued, ? ; issue price $8 per share. Shares held as treasury stock, 10,000 shares, cost $6 per share. Net income for 2013, $481,000. Common Stock account $150,000. Dividends declared and paid during 2013, $2 per share. Retained Earnings balance, January 1, 2013, $800,000. Required: Complete the following: (Round Earnings per share to 2 decimal places.) a. Shares issued b. Shares outstanding The balance in Additional Paid-in Capital would be Earnings per share is Total dividends paid on common stock during 2013 is Treasury stock should be reported in the stockholders' equity section of the balance sheet in the amount of Assume that the board of directors voted a 2-for-1 stock split. After the stock split, the par value per share will be $ 1
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