Required information

E11-4 (Algo) Reporting Stockholders' Equity LO11-1, 11-2, 11-3

[The following information applies to the questions displayed below.]

The financial statements for Highland Corporation included the following selected information:

Common stock	$	1,030,000
Retained earnings	$	760,000
Net income	$	1,050,000
Shares issued		103,000
Shares outstanding		70,000
Dividends declared and paid	$	650,000

The common stock was sold at a price of $27 per share.

1. What is the amount of additional paid-in capital?

2. What was the amount of retained earnings at the beginning of the year?

3. How many shares are in treasury stock?

4. Compute earnings per share. (round to 2 decimal places)