Exercise 11-13A (Algo) Recording and reporting treasury stock transactions LO 11-5 The following information pertains to JAE Corporation at January 1, Year 1: Common stock, $10 par, 10,000 shares authorized, 2,000 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings $20,000 15,300 69,300 JAE Corporation completed the following transactions during Year 1: 1. Issued 1,200 shares of $10 par common stock for $27 per share. 2. Repurchased 240 shares of its own common stock for $24 per share. 3. Resold 50 shares of treasury stock for $25 per share. Required: a. How many shares of common stock were outstanding at the end of the period? b. How many shares of common stock had been issued at the end of the period? c. Organize the transactions data in accounts under the accounting equation. d. Prepare the stockholders' equity section of the balance sheet reflecting these transactions.