The following information pertains to ABC Corp. at January 1, Year 2:

Common stock, $9 par, 12,000 shares authorized, 2,400 shares issued and outstanding	$	21,600
Paid-in capital in excess of par, common stock		12,200
Retained earnings		70,000

ABC Corp. completed the following transactions during Year 2:

1. Issued 1,100 shares of $9 par common stock for $27 per share.
2. Repurchased 200 shares of its own common stock for $24 per share.
3. Resold 50 shares of treasury stock for $25 per share.

Required

1. How many shares of common stock were outstanding at the end of the period?
2. How many shares of common stock had been issued at the end of the period?
3. Organize the transactions data in accounts under the accounting equation.
4. Prepare the stockholders equity section of the balance sheet reflecting these transactions.

Req A and B Reqc ReqD How many shares of common stock were outstanding and issued at the end of the period? a. Outstanding shares at the end of the period b. Issued shares at the end of the period 3,350 3,500 Accounting Equation for the Year 2 Stockholders' Equity Assets Event Liabilities + Cash Common Stock Paid-in Capital In Excess Common Stock Paid-in Capital In Excess Treasury Stock Treasury Stock Retained Earnings II + + + + Beg. bal. 1. 2. + + + + + + + + + + + + IIIIII + + 3. End. bal. + 0 = 0 + 0 + 0 + 0 0 + 0 . Balance Sheet (Partial) As of December 31, Year 2 Stockholders' Equity Common stock Paid-in capital in excess of par, common stock Paid-in capital in excess of cost, treasury stock $ 0 Total paid-in capital Retained earnings Less: Treasury stock Total stockholders' equity GA 0