Ch 10 EC Case - Natalie Corporation Following is the Jan. 1 stockholders' equity section of the balance sheet of the Natalic Corporation Common stock, $4 par value, 200,000 shares authorized Paid in capital in excess of par value -common Retained earnings Treasury stock, 4,200 shares $380,000 764,750 982,000 61,500 On January 1, Natalie reported a market price on common shares of $28.50 per share; that rose to $33.20 on June 1 and dropped to $30.50 on December 31, On June 1, Natalie Company declared and distributed a 10% stock dividend. On December 1, the corporation reissued 500 shares of treasury stock for $15,500. At December 31, net income of $604,600 for the year was reported. On December 31, they declared and paid dividends of $1.75/share. In order to receive credit, you must show your work! 1. At Jan. 1, how many shares of common stock are outstanding? 2. At Jan. 1, what was the average issue price of the common stock? At Jan. 1, what was the cost per share of the treasury stock? 4. Prepare the entry for the stock dividend on June 1