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For 7 - 10 use the following Best Incorporated Balance Sheet (partial) At December 31, Year 6 Stockholders' Equity: Preferred stock (par $100) Common stock
For 7 - 10 use the following Best Incorporated Balance Sheet (partial) At December 31, Year 6 Stockholders' Equity: Preferred stock (par $100) Common stock (par $0.05) Additional Paid in capital Total paid in capital Retained earnings Treasury stock (10,000 common shares) Total stockholders' equity $500,000 15,000 3,300,000 3,815,000 1,452,000 (160,000) $5,107,000 Assume that the company reissued 2,000 shares of its treasury stock for $20 per share. 7. How much would additional paid in capital change? $_ 8. How much would Stockholders' Equity change? 9. How many shares of Common stock would be issued after the reissuance? shares 10. How many shares of Commons stock would be outstanding after the reissuance? shares
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