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JAE Corporation completed the following transactions during Year 1: 1. Issued 900 shares of $9 par common stock for $26 per share. 2. Repurchased 160

image text in transcribed JAE Corporation completed the following transactions during Year 1: 1. Issued 900 shares of $9 par common stock for $26 per share. 2. Repurchased 160 shares of its own common stock for $23 per share. 3. Resold 50 shares of treasury stock for $24 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

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