Check my work Assume that the stockholders' equity section on the balance sheet of Mangum's, a popular department store, is shown below. During the year, the company reported net income of $241,085,000 and declared and paid dividends of $11,900,000. Stockholders' Equity: Common stock, Class A-116,730,308 and 116,625,495 shares issued; ? and ? shares outstanding Common stock, Class B (convertible)-4,020,929 shares issued and outstanding Current Year Last Year $ 1,167,000 $ 1,166,000 Additional paid-in capital 40,000 775,055,000 40,000 792,987,000 2,437,727,000 ? Less treasury stock, at cost, Class A- 47,116,748 and 45,480,148 shares (1,892,581,000) (938,560,000) Retained earnings Required: 1. What is the par value of Magnum's Class A common stock? 2. How many shares of Class A Common Stock were outstanding at the end of last year and the end of the current year? 3. What amount was reported in the Retained Earnings account at the end of last year? 4. How is the dollar amount in the treasury stock account at the end of the current year reflected on the asset side of the balance sheet? 5. During the current year, by what amount did treasury stock transactions increase or decrease stockholders' equity? 6. At the end of the current year, what was the average price paid per share for shares held in treasury stock?