Question

The stockholders' equity section on the balance sheet of Mangum's, a popular department store, is shown below. During the year, the company reported net income of $241,215,000 and declared and paid dividends of $11,910,000.

	Stockholders’ Equity :	Current Year		Last Year
	Common stock, Class A—116,710,308 and 116,625,495 shares issued; ? and ? shares outstanding	1,167,000		1,166,000
	Common stock, Class B (convertible)—4,130,929 shares issued and outstanding	41,000		41,000
	Additional paid-in capital	779,055,000		779,987,000
	Retained earnings	2,607,727,000		?
	Less treasury stock, at cost, Class A—47,176,748 and 45,370,148 shares	(1,882,581,000	)	(932,560,000	)

Required:

1. What amount was reported in the Common Stock (Class A) account at the end of the current year? (Round your answer to nearest whole number.)

2. How many shares of Class A Common Stock were outstanding at the end of last year and the end of the current year?

	Last year	Current Year
Number of shares

3.What amount was reported in the Retained Earnings account at the end of last year? (Enter your answer in thousands.)

4. During the current year, by what amount did treasury stock transactions increase or decrease stockholders' equity? (Enter the amount as positive value. Enter your answer in thousands.)

5. At the end of the current year, what was the average price paid per share for shares held in treasury stock? (Round your answer to 2 decimal places.)

Answer 1