The following items were shown on the balance sheet of ELO Corporation on December 31, 2021:

Stockholders equity

Paid-in capital

Capital stock

Common stock, $5 par value, 800,000 shares

authorized; ______ shares issued and ______ outstanding................... $3,000,000

Additional paid-in capital

In excess of par......................................................................................... 1,800,000

Total paid-in capital............................................................................. 4,800,000

Retained earnings................................................................................................. 1,850,000

Total paid-in capital and retained earnings............................................... 6,650,000

Less: Treasury stock (8,000 shares).................................................................... 42,000

Total stockholders equity......................................................................... $6,608,000

Instructions

Complete the following statements and show your computations.

(a) The number of shares of common stock issued was _______________.

(b) The number of shares of common stock outstanding was ____________.

(c) The total sales price of the common stock when issued was $____________.

(d) The cost per share of the treasury stock was $_______________.

(e) The average issue price of the common stock was $______________.

(f) Assuming that 20% of the treasury stock is sold at $8 per share, the balance in the Treasury Stock account would be $_______________.

OF utoSave Dopo... ACCT6065SecondEXAMSPRING22022R mo Insert Draw Design Layout References Tell me Share Uberation. v 11 A | Aav Ao 05 aste BI A2 A Paragraph Styles Dietate lui O Problem 2 (12 Polnta) The following lams were shown on the balance sheet of ELO Corporation on December 31, 2021: Stockholders' equity Pald-in capital Capital stock Common stock. $5 per valu, 800,000 shares authorized share issued and outstanding $3,000,000 I In excess of par Total paid in capital Retained earnings Total paid in capital and retained earings Less: Treasury stock (8.000 sharso). Total stockholders' equity Instructions Complete the following statements and show your computations. 1.800.000 4.800,000 150.000 600000 42.000 SATION (a) The number of shares of common stock food was (6) The number of shares of common stock outstanding was (c) The total sale price of the common stock when stued was (d) The cost per share of the treasury stock wie 5 (e) The average issue price of the common stock was Assuming that 20% of the treasury stock la sold at Sa per share the balance in the Treasury 1 Stock account would be 10291 Page 2 of 14 1777 words LEX Focus