The information below was taken from the statement of stockholders’ equity of Zielow Siding as of December 31, 1997. The par value of the Zielow stock is $5, and as of the beginning of 1997 the company held 400 shares in treasury. Common Additional Retained Treasury Stock Paid-In Capital Earnings Stock '"Beginning balances $10,000 $25,000 $34,000 $ 8,000 Acquisition of Timeco 5,000 23,000 Treasury share purchases Exercised stock options 1,000 800 4,000 Net income 5,600 Cash dividends 3,520 Ending balances $16,000 $48,800 $ 36,080 $12,000 REQUIRED:

a. Zielow issued common stock at one time prior to 1997. How many shares were issued and at what price per share?

b. Zielow purchased treasury stock at one time prior to 1997. How many shares were pur¬ chased and at what price?

c. During 1997 Zielow acquired Timeco and issued its own shares as payment in the trans¬ action. How many shares were issued and what was the market value of Timeco at the time of the acquisition?

d. At what price were the stock options exercised, and how did that price compare to the mar¬ ket value of Zielow stock at the time?

e. Compute the per share dividend rate paid by Zielow during 1997. Assume treasury shares acquired in 1997 were purchased at the same price per share prior to 1997