For 4 - 5 use the following Best Incorporated Balance Sheet (partial) At December 31,...
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Accounting
For 4 - 5 use the following Best Incorporated Balance Sheet (partial) At December 31, Year 6
Stockholders' Equity: Preferred stock (par $100) $400,000 Common stock (par $0.01) 1,000 Additional Paid in capital. 4,507,000 Total paid in capital 4,908,000 Retained earnings 1,254,000 Treasury stock (3,000 common shares) (165,000) Total stockholders' equity $5,997,000
Assume that the company sold 1,000 shares of its treasury stock for $60 per share. 4. How much would additional paid in capital change? $_______ 5. How much would Stockholders Equity change? $_______
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