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The shareholders' equity section of Max Inc. provides information as follows: Stockholders' equity Common stock, $1 par, 250,000 shares authorized, 75,500 shares issued, 72,000 shares
The shareholders' equity section of Max Inc. provides information as follows:
Stockholders' equity | |
Common stock, $1 par, 250,000 shares authorized, 75,500 shares issued, 72,000 shares outstanding | $75,500 |
Paid-in capital in excess of parCommon stock | 480,000 |
Retained earnings | 360,000 |
Accumulated other comprehensive income | 48,000 |
Less: Treasury stock, 3,500 shares at cost | (55,000) |
Total equity attributable to Nakoma Inc. stockholders | $908,500 |
Equity attributable to noncontrolling interests | 5,000 |
Total stockholders' equity | $913,500 |
During 2020, Max Inc. has the following transactions:
- On January 15, 2020, Max Inc. reacquired and retired 5,000 shares of $1 par value common stock at $20 per share.
- On Feburary 28, 2020, Max Inc. declared and issued a 2-for-1 stock split effected in form of a 100% large stock dividend.
- On June 30, 2020, Max Inc. purchased 2,200 common shares for the treasury at $18 per share.
- On December 15, 2020, Max Inc. retired 2,400 treasury shares.
Required: Given the transactions above, on December 31, 2020,
1. The number of authorized shares is shares.
2. The number of issued shares is shares.
3. The number of outstanding shares is shares.
4. The number of treasury shares is shares.
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