Problema I

The corporate charter of Roprin Corporation allows the issuance of a maximum of $3,000,000$ shares of $$1$ par value common stock. During its first three years of operation, Roprin issued $1,560,000$ shares at $$15$ per share. It later acquired $60,000$ of these shares as treasury stock for $$25$ per share.

Instructions

Based on the above information, answer the following questions:

$($a$)$ How many shares were authorized?

$($b$)$ How many shares were issued?

$($c$)$ How many shares are outstanding?

$($d$)$ What is the balance of the Common Stock account?

$($e$)$ What is the balance of the Treasury Stock account?