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

Common stock, $11 par, 14,000 shares authorized, 2,800 shares issued and outstanding	$	30,800
Paid-in capital in excess of par, common stock		13,500
Retained earnings		63,100

JAE Corp. completed the following transactions during Year 1:

1. Issued 1,200 shares of $11 par common stock for $30 per share.
2. Repurchased 180 shares of its own common stock for $27 per share.
3. Resold 50 shares of treasury stock for $28 per share.

Required a. How many shares of common stock were outstanding at the end of the period? b. How many shares of common stock had been issued at the end of the period? c. Organize the transactions data in accounts under the accounting equation. d. Prepare the stockholders equity section of the balance sheet reflecting these transactions.

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Req A and B Reqc Req D 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 Req A and B Reqc > RA Req A and B Reqc Reg D Organize the transactions data in accounts under the accounting equation. (Enter any decreases to account balances with a minus sign.) JAE CORPORATION Accounting Equation for the Year 1 Stockholders' Equity Assets Event Cash Liabilities + Common Stock Paid-in Capital In Excess Common Stock + Paid-in Capital In Excess Treasury Stock Treasury , Retained Stock Earnings Beg. bal. + + + + + + + + + + + + + + + + 3. End. bal. = = + + + + Req A and B Reqc Req D Prepare the stockholders' equity section of the balance sheet reflecting these transactions. JAE CORPORATION Balance Sheets (Partial) As of December 31 Stockholders' Equity ............ Total paid-in capital Total stockholders' equity