PLEASE TELL ME HOW TO GET TO THESE ANSWERS AND SHOWWORK.

Below is the shareholders’ equity section of Matt Co.’s balancesheet for December 31, 2018 and December 31, 2017. Matt uses thetreasury stock method to account for repurchases. During 2017, Mattrepurchased 1,000 shares at $10 per share.

	December 31, 2018	December 31, 2017
Common Stock (par value $0.01)	120	100
Paid-in Capital, in excess of par	189,880	149,900
Paid-in Capital, share repurchase	3,200	0
Treasury Stock	(6,000)	(10,000)
Retained Earnings	54,000	53,000
	241,200	193,000

During 2018, the following events took place:

On January 17, Matt issued new common shares of stock to newinvestors for $20 per share.

On September 12, Matt reissued 400 of the shares it had intreasury.

On December 18, the company declareddividends of to be paid to shareholders. The dividend will be paidon January 6, 2019.

For the year 2018, Matt reported netincome of $6,000.

1. How many shares were issued on January 17, 2018? (5points)

2,000 new shares

Cash                             40,000

            CommonStock                                     20

            Paid-inCapital, in excess ofpar        39,980

2. When Matt reissued its own shares on September 12, 2018, howmuch did the company receive per share? (5 points)

$18 per share

Cash                             7,200

            TreasuryStock                                      4,000

            Paid-inCapital, sharerepurchase           3,200

3. How much dividends did Matt declare on December 18, 2018? (5points)

53,000 + 6,000 – Dividends =54,000

Dividends = $5,000