£X13-13 Treasury stock transactions 08).5,6 Biscayne Bay Water Inc. bottles and distributes spring water. On May 14 of the current year, Biscayne Bay Water Inc. reacquired 23,500 shares of its common stock at $75 per share. On September 6, Biscayne Bay Water Inc. sold 14,000 of the reacquired shares at $81 per share. ‘The remaining 9,500 shares were sold at $72 per share on November 30. a. Journalize the transactions of May 14, September 6, and November 30. b. What is the balance in Paid-In Capit of the current year? from Sale of Treasury Stock on December 31 ¢. Where will the balance in Paid-In Capital from Sale of Treasury Stock be reported on the balance sheet? EX 13-16 Stockholders’ Equity section of balance sheet 08.6 Specialty Auto Racing Inc. retails racing products for BMWs, Porsches, and Ferraris. The following accounts and their balances appear in the ledger of Specialty Auto Racing Ine, on July 31, the end of the current year: Common Stock $36 pat.sssses+:+000 $10,080,000 Fald-n Capital rom Sale of reasury Stock —Cornmon es 340,000 Paid-n Capital in Excess of Pat-—Common Stock «-....+ 420,000 Fald-la Capital in Excess of Par—Preferred Stock... ses 384,000 Preferred 1% Stock, $150 par 7,200,000 Retained Earnings s--...s0- 71,684,000 Treasury Stock—Common ....s-sese0e0 1,008,000, Fifty thousand shares of preferred and 300,000 shares of common stock are authorized ‘There are 24,000 shares of common stock held as treasury stock, Prepare the Stockholders’ Equity section of the balance sheet as of July 31, the end of the current year using Method 1 of Exhibit 7, £X 13-17 Retained earnings statement oB.6 Sumter Pumps Corporation, a manufacturer of industrial pumps, reports the following re- sults for the year ended January 31, 2016: Retained eamings, February 1, 2015 .......--..+ $59,650,000 Net income .....-.0+2 astoneannasinaannneSsdTEadE 2 8,160,000 Cash dvidendsdedated .....- a semanas 1,000.00 Stock dividends declared 2,600000 Prepare a retained earnings statement for the fiscal year ended January 31, 2016,EX 13-20 Effect of stock split | 0Bs.7 Copper Grill Restaurant Corporation wholesales ovens and ranges to restaurants through out the Southwest. Copper Grill Restaurant Corporation, which rad 50,000 shares of com- mon stock outstanding, declared a 3-for-1 stock split. a. What will be the number of shares outstanding after the split? b. Ifthe common stock had a market price of $210 per share before the stock split, what would be an approximate market price per share after the split?