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The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts: Contributed Capital Preferred Stock (par $20; authorized 10,000
The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts:
Contributed Capital | |||
Preferred Stock (par $20; authorized 10,000 shares, ? issued, of which 1,000 shares are held as treasury stock) | $ | 108,000 | |
Additional Paid-In Capital, Preferred | 15,390 | ||
Common Stock (no-par; authorized 20,000 shares, issued and outstanding 6,200 shares) | 632,400 | ||
Retained Earnings | 32,000 | ||
Treasury Stock, 1,000 Preferred shares at a cost | (9,600 | ) | |
Assume that no shares of treasury stock have been sold in the past.
Required:
Complete the following statements. (Decreases should be indicated by a minus sign. Round per share to 2 decimal places.):
1. The treasury stock transactions increase (decreased) stockholders' equity by?
2. Total stockholders equity is?
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