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

Common stock, $11 par, 9,000 shares authorized, 1,800 shares issued and outstanding$19,800Paid-in capital in excess of par, common stock16,000Retained earnings54,200

JAE Corp. completed the following transactions during Year 2:

1. Issued 900 shares of $11 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.

How many shares of common stock were outstanding and issued at the end of the period? . Outstanding shares at the end of the period b. Issued shares at the end of the period 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 2 Assets Stockholders' Equity Event Liabilities + Cash Common Paid-in Capital Paid-in Capital + Retained + Stock In Excess In Excess Treasury + Common Stock Treasury Stock Stock Earnings Beg. bal. + + 1. S 2. 3. S + + End. bal. 0 0 + 0 + 0 + 0 0 + 0Prepare the stockholders' equity section of the balance sheet reflecting these transactions. JAE CORPORATION Balance Sheet (Partial) As of December 31, Year 2 Stockholders' Equity Total paid-in capital 0 Total stockholders' equity $ 0Conlnon stock, $11 per, 9,899 shares authorized, 1,880 shares issued and outstanding $19,868 Paidin capital in excess of par', cannon stock 16,699 Retained earnings 54,269