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Reporting Stockholders' Equity The following data are from the accounts of Mitar Corporation at December 31. Retained earnings, beginning balance Common stock, $_par, 160,000 shares authorized, 80,000 shares issued Treasury stock, 1,600 shares Paid-in capital in excess of par Bonds payable Net income (not included in retained earnings above) Dividends declared and paid (not included in retained earnings above) Required a. Determine the value of the following items. 1. Total retained earnings at year-end 2. Par value per share 3. Number of shares outstanding 4. Total stockholders' equity Common stock, par value issued shares Paid-in capital in excess of par Retained earnings Treasury stock Total stockholders' equity $ 1,616,000 $ 12 X 78,400 $ 5. Average original selling price per share $ 6. Cost per share of treasury stock $ b. Prepare the stockholders' equity section of the balance sheet at December 31. Stockholders' Equity Section December 31 $ 3,888,000 * 12 X 32,000 * $1,440,000 1,600,000 32,000 640,000 320,000 304,000 128,000 200 x authorized shares 160,000 * outstanding shares 80,000 * 78,400 $ 0 0 0

Reporting Stockholders' Equity The following data are from the accounts of Mitar Corporation at December 31. Required a. Determine the value of the following items. b. prepare the stockholders' equity section of the balance sheet at Decemher 1

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