Acc423 Intermediate Accounting: E15-10 For a recent 2-year period, the balance sheet of Franklin

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Acc423 Intermediate Accounting

E15-10 (Analysis of Equity Data and Equity Section Preparation)
For a recent 2-year period, the balance sheet of Franklin Company showed the following stockholders' equity data at December 31 in millions.
2013 2012
Additional paid-in capital 891 817
Common stock-par 545 540
Retained earnings 7,167 5,226
Treasury stock 1,428 918
Total stockholders' equity 7,175 5,665

Common stock shares issued 218 216
Common stock shares authorized 500 500
Treasury stock shares 34 27

a. Answer the following questions.
1. What is the par value of the common stock? (Round to 2 decimal places, e.g. 1.10.)
2. What is the cost per share of treasury stock at December 31, 2013 and December 31, 2012?
b. Prepare the stockholders' equity section at December 31, 2013. (Enter all amounts as positive and subtract where necessary.)
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