You are required to perform an analysis of U.S. Stell Shareholder's Equity section (below) on the balance sheet. Based on this partial Shareholder's Equity section answer the following questions. Show all computatioins for the answers.

Common stock, 1,000,000 shares authorized, 400,000 issued, 392,000 outstanding	$2,000,000
Paid in capital in excess of par, common stock	475,000
Retained earnings	980,000
Treasury stock (cost $7)
Total stockholder's equity

1. What is the par value of common stock?

2. Did the common stock sell at, below, or above par value? how do you know?

3. What was the average selling price per share of the common stock?

4. How many shares are held as treasury stock?

5. What is the toal value of treasury stock?

6. What is total stockholder's equity?