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CP11-3 Finding Missing Amounts (LO 11-2, LO 11-3, LO 11-5) At December 31, the records of Nortech Corporation provided the following selected and incomplete data:
CP11-3 Finding Missing Amounts (LO 11-2, LO 11-3, LO 11-5) At December 31, the records of Nortech Corporation provided the following selected and incomplete data: Common stock (par $1; no changes during the current year). Shares authorized, see, eee. Shares issued, : issue price $32 per share. Common Stock account, $300,eee. Shares held as treasury stock, 4. eee shares, cost $23 per share. Net income for the current year. $370,000. Dividends declared and paid during the current year, $97,680. Retained Earnings balance, beginning of the year, $165,000. Required: Complete the following: TIP To determine the number of shares issued, divide the balance in the Common Stock account by the par value per share. (Round "per share" answers to 2 decimal places.) 1- Shares Authorized a. 1- Shares Issued b 1- Shares Outstanding 2 The Balance in Additional Paid-in Capital would be 3 Earnings per Share is 4. Dividends Paid per Share of Common Stock is 5 Treasury Stock should be Reported in the Stockholders Equity Section of the Balance Sheet in the Amount of Assume that the Board of Directors Approved a 2-for-1 Stock Split. After the Stock Split 6 the Par Value per Share will be
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