Exercise 15-10

For a recent 2-year period, the balance sheet of Marin Company showed the following stockholders equity data at December 31 (in millions).

		2017		2016
Additional paid-in capital		$ 920		$ 825
Common stock		651		639
Retained earnings		7,230		5,310
Treasury stock		1,596		930
Total stockholders equity		$7,205		$5,844
Common stock shares issued		217		213
Common stock shares authorized		500		500
Treasury stock shares		38		30

(a) Answer the following questions. (1) What is the par value of the common stock? (Round par value to 2 decimal places, e.g. $3.15.)

Par value of common stock (2) What is the cost per share of treasury stock at December 31, 2017, and at December 31, 2016? December 31, 2017 December 31, 2016 Cost per share of Treasury stock