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The following correctly prepared entries without explanations pertain to Corners Corporation: Account Title Debit Credit 1. Cash 1,800,000 Common Stock 1,100,000 Paid-in Capital in Excess

The following correctly prepared entries without explanations pertain to Corners Corporation:

Account Title Debit Credit
1. Cash 1,800,000
Common Stock 1,100,000
Paid-in Capital in Excess of Par Value 700,000
2. Treasury Stock 40,800
Cash 40,800
3. Cash 37,000
Treasury Stock 33,600
Paid-in Capital in Excess of Cost of Treasury Stock 3,400

The original sale (Entry 1) was for 600,000 shares, and the treasury stock was acquired for $6 per share (Entry 2).

Required
a.

What was the sales price per share of the original stock issue? (Round your answer to 2 decimal places)

b. How many shares of stock did the corporation acquire in Entry 2?

c. How many shares were reissued in Entry 3?

d. How many shares are outstanding immediately following Entries 2 and 3, respectively?

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