- The Shareholders Equity Section Of Max Inc Provides Information As Follows Stockholders Equity Common Stock 1 Par 1 (54.67 KiB) Viewed 63 times
The shareholders' equity section of Max Inc. provides information as follows: Stockholders' equity Common stock. $1 par, 250,000 shares authorized, 75,500 shares $75,500 issued, 72,000 shares outstanding Paid-in capital in excess of par-Common stock 480,000 Retained earnings 360,000 Accumulated other comprehensive income 48,000 Less: Treasury stock, 3,500 shares at cost (55,000) Total equity attributable to Nakoma Inc. stockholders $908,500 Equity attributable to noncontrolling interests 5.000 Total stockholders' equity $913,500 During 2020, Max Inc. has the following transactions: • On January 15, 2020, Max Inc. issued 5,000 shares of $1 par value common stock for $20 per share, On Feburary 28, 2020, Max Inc. declared and issued a 2-for-1 stock split effected in form of a 100% large stock dividend • On May 20, 2020, Max Increacquired and retired 1,000 shares of common stock at $17.25 per share. • On December 15, 2020, Max Inc. retired 400 treasury shores Required: Given the transactions above, on December 31, 2020, 1. The number of authorized shares is 250000 shares 2. The number of issued shares is 151000 shares 3. The number of outstanding shares is 157100 shares. 4. The number of treasury shares is 3100 shares