The following information pertains to JAE Corp. at January 1, Year 2: Common stock, $12 par, 12,000 shares authorized, 2,400 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings $28,800 12,800 55,700 JAE Corp. completed the following transactions during Year 2: 1. Issued 1,100 shares of $12 par common stock for $27 per share. 2. Repurchased 240 shares of its own common stock for $24 per share. 3. Resold 50 shares of treasury stock for $25 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. 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 Organize the transactions data in accounts under the accounting equation. (Enter any decreases to account balances with a minus sign.) Assets JAE CORPORATION Accounting Equation for the Year 2 Stockholders' Equity Paid-in Paid-in Common Capital In Capital In Excess Excess Stock Common Treasury Stock Stock Event Liabilities + Cash + Treasury Stock + Retained Earnings Beg. bal. + + 1. + + + 2. + + + + 3. + + + + End. bal. + + + + Prepare 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 Total stockholders' equity