At October 31, 2020, Rigg, Inc. has 50,000 common shares issued and outstanding. The companys common stock account has a balance of $25,000 and the additional paid-in capital account has a value of $975,000.

Omit $ signs. For per share amounts, enter your answer in dollars and cents (e.g., 4.00). Hint for answering these questions: recreate the journal entry Rigg would have recorded upon issuing the common shares. Divide aggregate amounts by the number of shares issued.

1. What is the par value of Riggs common stock?
2. At what price, on average, were the 50,000 shares issued?

On December 15, 2020, Rigg, Inc. repurchases 600 common shares. As a result of this transaction, the December 31, 2020 balance sheets shows Treasury stock of $47,250.

1. What price per share did Rigg pay to repurchase the 600 shares?
2. What is the book value of common stock after the repurchase of treasury shares?