The following information pertains to JAE Corporation 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 JAE Corporation completed the following transactions during Year 1: $30,800 15,000 65,700 1. Issued 1,050 shares of $11 par common stock for $28 per share. 2. Repurchased 210 shares of its own common stock for $25 per share. 3. Resold 50 shares of treasury stock for $26 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. Event Assets Beginning balance 1. 2. 3. JAE CORPORATION Accounting Equation for the Year 1 Stockholders' Equity Liabilities Common Paid-in Capital Cash In Excess Stock Common Stock ++ ++ + + Ending balance 0 = 0+ 0+ 0+ Paid-in Capital In Excess Treasury Stock Treasury + Stock Retained Earnings +++ 0+ 0 Stockholders' Equity Common stock JAE CORPORATION Balance Sheet (Partial) As of December 31 Paid-in capital in excess of par, common stock Paid-in capital in excess of cost, treasury stock Total paid-in capital Retained earnings Less: Treasury stock Total stockholders' equity SA $ 0 $ 0