Comet Ceuta MM 250,000 50,000 125.000 25,000 300,000 Common Stock, S25 Par Value Paid-In Capital in Excess of Par Value, Common Stock b. Organization Expenses 150,000 Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock c. Cash Accounts Receivable 15.000 Building 81.500 Notes Payabale Common Stock, $25 Par Value Paid-In Capital in Excess of Par Value, Common Stock d. Cash 120,000 Common Stock. $25 Par Value Pald-In Capital in Excess of Par Value, Common Stock 59.500 50,000 30,000 75.000 Required 1. Explain the transaction(s) underlying each journal entry (a) through (d). 2. How many shares of common stock are outstanding at year-end? Check (2) 20,000 shares 3. What is the total paid-in capital at year-end? (3) $650,000 4. What is the book value per share of the common stock at year-end if total paid-in capital plus retained earnings equals $695,000