(Answered) Problem - for a recent 2-year period the balance sheet of

Accounting

Problem - For a recent 2-year period, the balance sheet of Blossom Company showed the following stockholders' equity data at December 31 (in millions).

	2017	2016
Additional paid-in capital	$ 980	$ 819
Common stock	663	654
Retained earnings	7,250	5,300
Treasury stock	1,620	1,044
Total stockholders' equity	$7,273	$5,729

Common stock shares issued	221	218
Common stock shares authorized	500	500
Treasury stock shares	36	29

(a) Answer the following questions.

(1) What is the par value of the common stock?

(2) What is the cost per share of treasury stock at December 31, 2017, and at December 31, 2016?

(b) Prepare the stockholders' equity section at December 31, 2017.

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