The financial statements for Highland Publications Corporation included the following selected information:
Common stock $ 520,000
Retained earnings $ 870,000
Net income $ 1,200,000
Shares issued 104,000
Shares outstanding 71,000
Dividends declared and paid $ 760,000
The common stock was sold at a price of $29 per share.
1. What is the amount of capital in excess of par?
2. What was the amount of retained earnings at the beginning of the year?
3. How many shares are in treasury stock?
4. Compute earnings per share. (Round your answer to 2 decimal places.)