Mid America Amusements Corporation had the following stockholders' equity on November 30: B (Click the icon to view the stockholders' equity.) On December 30, Mid America purchased 175 shares of treasury stock at $10 per share. Read the requirements. Requirement 1. Journalize the purchase of the treasury stock. (Record debits first, then credits. Select the explanation on the last line of the journal 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: Data Table Total Paid-In Capital Stockholders' Equity Paid-In Capital: Common Stock-$5 Par Value; 1,300 shares authorized, 320 shares issued and outstanding $ 1,600 4,800 Total Stockholders' Equity Paid-In Capital in Excess of ParCommon Total Paid-In Capital Retained Earnings 6,400 50,000 Requirement 3. How many shares of common stock are outstanding after the purchase of treasury stock? $ 56,400 shares are outstanding. Total Stockholders' Equity Print Done