Bacon, Inc., has the following stockholders equity section in its May 31, 2016, comparative balance sheets:

Required:

a. Calculate the amount that should be shown on the balance sheet for common stock at May 31, 2016.

b. The only transaction affecting additional paid-in capital during the month of May was the sale of additional common stock. At what price per share were the additional shares sold?

c. What was the average cost per share of the common stock purchased for the treasury during the month?

Paid-in capital Preferred stock, $120 par value, 9%, cumulative, 50,000 shares authorized, 35,000 shares issued and outstanding Common stock, $5 par value, 250,000 shares authorized, 150,000 and 135,000 shares issued, respectively Additional paid in capital Retained earnings Less: Treasury common stock, at cost, 18,000 shares and 17,000 shares, respectively Total stockholders' equity May 31, 2016 April 30, 2016 $4,200,000 4,200,000 675,000 6,495,000 5,805,000 9,050,000 8,660,000 (1,101.000) 1,037000' $18,303,000