The following information pertains to JAE Corporation at January 1, Year 1:

Common stock, $11 par, 12,000 shares authorized, 2,400 shares issued and outstanding	$26,400
Paid-in capital in excess of par, common stock	14,900
Retained earnings	73,000

JAE Corporation completed the following transactions during Year 1:

1. Issued 1,000 shares of $11 par common stock for $29 per share.
2. Repurchased 160 shares of its own common stock for $26 per share.
3. Resold 50 shares of treasury stock for $27 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.

Complete this question by entering your answers in the tabs below. How many shares of common stock were outstanding and issued at the end of the period? Organize the transactions data in accounts under the accounting equation. Note: Enter any decreases to account balances with a minus sign. Not all cells require input. Prepare the stockholders' equity section of the balance sheet reflecting these transactions