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Question 6 10 pts The corporate charter of Maine Yacht Corporation allows the issuance of a maximum of 3,000,000 shares of $1 par value common
Question 6 10 pts The corporate charter of Maine Yacht 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, Maine issued 2,200,000 shares at $15 per share. It later acquired 30,000 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? shares (b) How many shares were issued? shares (c) How many shares are outstanding? shares (d) What is the balance of the Common Stock account? $ (e) What is the balance of the Treasury Stock account? S
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