The shareholders' equity section of Buzytown Industries' balance sheet reports the following:

Required:
a. How many shares of preferred stock were issued during 2012? What was the average issue price?
b. How many shares of common stock were issued during 2012" What was the average issue price?
c. Prepare the entry to record the repurchase of the company's own stock during 2012. What was the average repurchase price?
d. Assume that the treasury shares were purchased on the last day of 2012. Did the purchase increase or decrease the book value of the outstanding share ? By how much?

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2012 2011 S 200,000 S 110,000 Preferred stock (9%, $100 par value) Common stock (S10 par value, 750,000 shares authorized, 90,000 issued, and 5,000 held in treasury) Additional paid-in capital: Preferred stock 750,000 900,000 150,000 465,000 575,000 (110,000) 52.180,000 35,000 298,000 Common stock Retained earnings Less: Treasury stock Total shareholders' equity 495,000 51.688,000