QuestionPA11-3 (Algo) Finding Missing Amounts [LO 11-2, LO 11-3, LO 11-5]
At December 31, the records of Kozmetsky Corporation provided the following selected and incomplete data: Common stock (par \$2; no changes during the current year). Shares authorized, 5,000,000. Shares issued, ? ; issue price \$8 per share. Shares held as treasury stock, 11,200 shares, cost$\$6$ per share. Net income for the current year, \$452,160. Common Stock account, \$148,000. Dividends declared and paid during the current year, \$2 per share. Retained Earnings balance, beginning of year, \$780,000. Required: Complete the following: Note: Round "Earnings per share" to 2 decimal places. \begin{tabular}{|l|l|} \hline 1-a. Shares issued & \\ \hline 1-b. Shares outstanding & \\ \hline 2. The balance in Additional Paid-in Capital would be \\ \hline 3. Earnings per share is & \\ \hline 4. Total dividends paid on common stock during the current year is & \\ \hline 5. Treasury stock should be reported in the stockholders' equity section of the balance sheet in the amount of & \\ \hline 6. Assume that the board of directors voted a 2-for-1 stock split. After the stock split, the par value per share will be & \\ \hline \end{tabular}