Question
At December 31, the records of Seacrest Enterprises provided the following selected and incomplete data: Common stock (par $1; no changes during the current year).
At December 31, the records of Seacrest Enterprises provided the following selected and incomplete data:
Common stock (par $1; no changes during the current year). Shares authorized, 10,000,000. Shares issued, ? ; issue price $10 per share. Shares held as treasury stock, 56,000 shares, cost $11 per share. Net income for the current year, $1,960,400 Common Stock account, $810,000. Dividends declared and paid during the current year, $1 per share. Retained Earnings balance, beginning of year, $37,000,000.
Required:
Complete the following: (Round per share to 2 decimal places.)
Required: Complete the following: (Round per share to 2 decimal places.)Step by Step Solution
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