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At the end of the year, the records of NCIS Corporation provided the following selected and incomplete data: Common stock (par $10); no changes in
At the end of the year, the records of NCIS Corporation provided the following selected and incomplete data: Common stock (par $10); no changes in account during the year. Shares authorized, 380,000. Shares issued: $15 per share. Total cash collected: $2,190,000. Treasury stock: 5,000 shares (repurchased at $18 per share) The treasury stock was acquired after a stock split was announced. Net income, $291,870. Dividends declared and paid: $167,790. Retained earnings beginning balance: $735,000. (all shares were issued at
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