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Roberto Corporation was organized on January 1, 2021. The firm was authorized to issue 100,000 shares of $5 par common stock. During 2021, Roberto had
Roberto Corporation was organized on January 1, 2021. The firm was authorized to issue 100,000 shares of $5 par common stock. During 2021, Roberto had the following transactions relating to shareholders' equity: Issued 10,500 shares of common stock at $7.10 per share. Issued 19,700 shares of common stock at $9.90 per share. Reported a net income of $98,000. Paid dividends of $55,000. Purchased 3,800 shares of treasury stock at $11.90 (part of the 19,700 shares issued at $9.90).
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