The following information pertains to JAE Corporation at January 1, Year 1. Common stock, $11 par, 9,000 shares authorized, 1,800 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings JAE Corporation completed the following transactions during Year 1: $ 19,800 16,300 66,700 1. Issued 950 shares of $11 par common stock for $26 per share. 2. Repurchased 190 shares of its own common stock for $23 per share. 3. Resold 50 shares of treasury stock for $24 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? c1. Prepare journal entries for these transactions. c2. Post the journal entries to T-accounts. d. Prepare the stockholders' equity section of the balance sheet reflecting these transactions.

The following information pertains to JAE Corporation at January 1, Year 1. Common stock, $11 par, 9,000 shares authorized, 1,800 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings $ 19,800 16,300 66,700 JAE Corporation completed the following transactions during Year 1: 1. Issued 950 shares of $11 par common stock for $26 per share. 2. Repurchased 190 shares of its own common stock for $23 per share. 3. Resold 50 shares of treasury stock for $24 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? c1. Prepare journal entries for these transactions. c2. Post the journal entries to T-accounts. d. Prepare the stockholders' equity section of the balance sheet reflecting these transactions.