The stockholders' equity section of The Seventies Shop is presented here. THE SEVENTIES SHOP Balance Sheet (partial) ($ in thousands) Stockholders' equity: Preferred stock, $50 par value Common stock, $5 par value Additional paid-in capital Total paid-in capital Retained earnings Treasury stock Total stockholders' equity $0 13,000 28,600 Based on the stockholders' equity section of The Seventies Shop, answer the following questions. Remember that all amounts are presented in thousands. Average price 41,600 46,000 (2,300) $85,300 3. Total paid-in capital is $41.60 million. At what average price per share were the common shares issued? per share
The stockholders' equity section of The Seventies Shop is presented here. THE SEVENTIES SHOP Balance Sheet (partial) ($ in thousands) Stockholders' equity: Preferred stock, $50 par value Common stock, $5 par value Additional paid-in capital Total paid-in capital Retained earnings Treasury stock Total stockholders' equity $0 13,000 28,600 Based on the stockholders' equity section of The Seventies Shop, answer the following questions. Remember that all amounts are presented in thousands. Average price 41,600 46,000 (2,300) $85,300 3. Total paid-in capital is $41.60 million. At what average price per share were the common shares issued? per share
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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## Required Information
**[The following information applies to the questions displayed below.]**
The stockholders’ equity section of The Seventies Shop is presented here:
**THE SEVENTIES SHOP**
**Balance Sheet (partial)**
*(in thousands)*
| Stockholders' Equity | Amount ($) |
|-----------------------------|-------------|
| Preferred stock, $50 par value | $0 |
| Common stock, $5 par value | $13,000 |
| Additional paid-in capital | $28,600 |
| **Total paid-in capital** | **$41,600** |
| Retained earnings | $46,000 |
| Treasury stock | ($2,300) |
| **Total stockholders’ equity** | **$85,300** |
Based on the stockholders’ equity section of The Seventies Shop, answer the following questions. Remember that all amounts are presented in thousands.
**3. Total paid-in capital is $41.60 million. At what average price per share were the common shares issued?**
---
### The provided balance sheet information includes:
1. Preferred Stock: $0
2. Common Stock at $5 Par Value: $13,000
3. Additional Paid-in Capital: $28,600
4. Total Paid-in Capital: $41,600
5. Retained Earnings: $46,000
6. Treasury Stock: ($2,300)
7. Total Stockholders’ Equity: $85,300
In order to determine the average price per share at which the common shares were issued, you will need to solve using the provided amounts.
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Transcribed Image Text:---
## Required Information
**[The following information applies to the questions displayed below.]**
The stockholders’ equity section of The Seventies Shop is presented here:
**THE SEVENTIES SHOP**
**Balance Sheet (partial)**
*(in thousands)*
| Stockholders' Equity | Amount ($) |
|-----------------------------|-------------|
| Preferred stock, $50 par value | $0 |
| Common stock, $5 par value | $13,000 |
| Additional paid-in capital | $28,600 |
| **Total paid-in capital** | **$41,600** |
| Retained earnings | $46,000 |
| Treasury stock | ($2,300) |
| **Total stockholders’ equity** | **$85,300** |
Based on the stockholders’ equity section of The Seventies Shop, answer the following questions. Remember that all amounts are presented in thousands.
**3. Total paid-in capital is $41.60 million. At what average price per share were the common shares issued?**
---
### The provided balance sheet information includes:
1. Preferred Stock: $0
2. Common Stock at $5 Par Value: $13,000
3. Additional Paid-in Capital: $28,600
4. Total Paid-in Capital: $41,600
5. Retained Earnings: $46,000
6. Treasury Stock: ($2,300)
7. Total Stockholders’ Equity: $85,300
In order to determine the average price per share at which the common shares were issued, you will need to solve using the provided amounts.
---
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