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E11-4 (Algo) Reporting Stockholders' Equity LO11-1, 11-2, 11-3
[The following information applies to the questions displayed below.]
The financial statements for Highland Corporation included the following selected information:
| | |
| Common stock | $ | 1,030,000 |
| Retained earnings | $ | 760,000 |
| Net income | $ | 1,050,000 |
| Shares issued | | 103,000 |
| Shares outstanding | | 70,000 |
| Dividends declared and paid | $ | 650,000 |
| |
The common stock was sold at a price of $27 per share.
1. What is the amount of additional paid-in capital?
2. What was the amount of retained earnings at the beginning of the year?
3. How many shares are in treasury stock?
4. Compute earnings per share. (round to 2 decimal places)
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