Mid America Amusements Corporation had the following stockholders' equity on November 30: (Click the icon to view the stockholders' equity.) On December 30, Mid America purchased 150 shares treasury stock at $8 per share. Read the requirements Requirement 1. Journalize the purchase of the treasury stock. (Check your spelling carefully and do not abbreviate. Record debits first, then credits. Select the explanation on the last line of the joumal entry table.) Date Accounts and Explanation Debit Credit Dec. 30 Requirement 2. Prepare the stockholders' equity section of the balance sheet at December 31, 2018. Assume the balance in retained earnings is unchanged from November 30. Mid America Amusements Corporation Balance Sheet (Partial) December 31 Stockholders' Equity Paid-In Capital: i Data Table Stockholders' Equity Paid-In Capital: Common Stock-$5 Par Value; 1,300 shares authorized, 190 shares issued and outstanding Paid-In Capital in Excess of ParCommon Total Paid-In Capital $ 950 Total Paid-In Capital 2,850 3,800 53,000 Total Stockholders' Equity Retained Earnings Total Stockholders' Equity $ 56,800 Requirement 3. How many shares of common stock are outstanding after the purchase of treasury stock? shares are outstanding. Print Done