oints The corporate charter of Fly Away Corporation allows the issuance of a maximumofh000,000 shares ofs1 par valme common stock. During its first three years operation, Fly Away ed 550,000 shares at $15 per share. It later of issu acquired TO,00inf these shares as treasury stock for S19 per share. Instructions Based on the above information, answer the following questions: a. How many shares were authorized? ab How many ares were issu c How many shares are outstandin d. What is the balance of the Common Stock account e... the balance of Stock ry account? point The Hampel Corporation is authorized to issue 1,000,000 shares ofs1 par value common stock. During 1993, its first year of operation, the company has the following stock transactions. Jan. 1 Paid the state SI,000 for incorporation fees Jan. 15 Issued 350,000 shares of stock at ST per share. Jan 30 Attomeys for the company accepted 500 shares of common stock as payment for legal services rendered in helping the company incorporate. The legal services are estimated to have a value of S3,500. July 2 Issued 100,000 shares of stock forland. The and had an asking price of S800,000. The stock is currently selling on a national exchange at S7.50 Sept 5 Purchased 13,000 shares of common stock for tbe ticasury at S8.50 per share. Dec. 6 sold 11,000 shares of the treasury stock at s10 per sbare. ahnstructions malize the transactions for the Hampel Corporation