Exercise 15-10

[Partially correct answer.] Your answer is partially correct. Try again.

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

2017 2016 Additional paid-in capital $ 960 $ 818 Common stock 669 663 Retained earnings 7,150 5,260 Treasury stock 1,900 900 Total stockholders equity $6,879 $5,841 Common stock shares issued 223 221 Common stock shares authorized 500 500 Treasury stock shares 38 25

(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 $ [Entry field with correct answer]

(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 $ [Entry field with correct answer] $ [Entry field with incorrect answer now contains modified data]

(b) Prepare the stockholders equity section at December 31, 2017. (Enter account name only and do not provide descriptive information.)

Buffalo Company Balance Sheet (in millions of dollars) (Partial) [Entry field with incorrect answer now contains modified data] Additional Paid-in Capital Current Assets Current Liabilities Intangible Assets Long-term Investments Long-term Liabilities Paid-in Capital Property, Plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Paid-in Capital Total Paid-in Capital and Retained Earnings Total Property, Plant and Equipment Total Stockholders' Equity [Entry field with incorrect answer now contains modified data] Additional Paid-in Capital Current Assets Current Liabilities Intangible Assets Long-term Investments Long-term Liabilities Paid-in Capital Property, Plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Paid-in Capital Total Paid-in Capital and Retained Earnings Total Property, Plant and Equipment Total Stockholders' Equity [Entry field with correct answer] $ [Entry field with correct answer] [Entry field with correct answer] Additional Paid-in Capital Current Assets Current Liabilities Intangible Assets Long-term Investments Long-term Liabilities Paid-in Capital Property, Plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Paid-in Capital Total Paid-in Capital and Retained Earnings Total Property, Plant and Equipment Total Stockholders' Equity [Entry field with incorrect answer now contains modified data] [Entry field with correct answer] Additional Paid-in Capital Current Assets Current Liabilities Intangible Assets Long-term Investments Long-term Liabilities Paid-in Capital Property, Plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Paid-in Capital Total Paid-in Capital and Retained Earnings Total Property, Plant and Equipment Total Stockholders' Equity [Entry field with incorrect answer] [Entry field with incorrect answer] [Entry field with incorrect answer] [Entry field with incorrect answer] Additional Paid-in Capital Current Assets Current Liabilities Intangible Assets Long-term Investments Long-term Liabilities Paid-in Capital Property, Plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Paid-in Capital Total Paid-in Capital and Retained Earnings Total Property, Plant and Equipment Total Stockholders' Equity [Entry field with incorrect answer] [Entry field with correct answer] Add Less : [Entry field with incorrect answer now contains modified data] [Entry field with incorrect answer] [Entry field with incorrect answer now contains modified data] Additional Paid-in Capital Current Assets Current Liabilities Intangible Assets Long-term Investments Long-term Liabilities Paid-in Capital Property, Plant and Equipment Stockholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Paid-in Capital Total Paid-in Capital and Retained Earnings Total Property, Plant and Equipment Total Stockholders' Equity $ [Entry field with incorrect answer]