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 Paid-in capital in excess of par, common stock Retained earnings $30,800 12,500 62,800 JAE Corp. completed the following transactions during Year 1: 1. Issued 1,050 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 a. How many shares of common stock were outstanding at the end of the period? Outstanding shares at the end of the period 1,450 b. How many shares of common stock had been issued at the end of the period? Issued shares at the end of the period 1,600 Cash Beg. Bal Beg. Bal 1. Common Stock 30,800 11,550 28,350 4,800 1,250 24,800 End. Bal End. Bal 42,350 PIC in Excess of Par, CS Treasury Stock Beg. Bal Beg. Bal 12,500 13,125 4,800 1.200 End. Bal 25,625 End. Bal 3,600 PIC in Excess of Cost, TS Beg. Bal 200 End. Bal 200 d. Prepare the stockholders' equity section of the balance sheet reflecting these transactions. (Amounts to be deducted should be indicated with minus sign.) 1 $ Stockholders' equity Common stock Paid-in capital in excess of par, CS Paid-in capital in excess of cost, TS Retained earnings Total paid-in capital Treasury stock 42,350 25,625 200 62,800 $ 130,975 3,600 Total stockholders' equity $ 134,575