Larkspur Service Corporation's December 31, 2025 balance sheet reported the following: 3% preferred stock, $270 par value $540,000 Common stock, $1 par value 640,000 Paid-in capital in excess of par - preferred stock 76,800 Paid-in capital in excess of par - common stock 9,600,000 Retained earnings 12,250,000 Treasury stock 144,000 The average cost of the treasury shares was $10 per share. Answer the following questions: (a) × Your answer is incorrect. How many shares of common stock have been issued as of December 31, 2025? 654,400 shares of common stock have been issued as of December 31, 2025.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Larkspur Service Corporation's December 31, 2025 balance sheet reported the following:
3% preferred stock, $270 par value
$540,000
Common stock, $1 par value
640,000
Paid-in capital in excess of par- preferred stock
76,800
Paid-in capital in excess of par - common stock
9,600,000
Retained earnings
12,250,000
Treasury stock
144,000
The average cost of the treasury shares was $10 per share.
Answer the following questions:
(a)
* Your answer is incorrect.
How many shares of common stock have been issued as of December 31, 2025?
654,400
shares of common stock have been issued as of December 31, 2025.
Transcribed Image Text:Larkspur Service Corporation's December 31, 2025 balance sheet reported the following: 3% preferred stock, $270 par value $540,000 Common stock, $1 par value 640,000 Paid-in capital in excess of par- preferred stock 76,800 Paid-in capital in excess of par - common stock 9,600,000 Retained earnings 12,250,000 Treasury stock 144,000 The average cost of the treasury shares was $10 per share. Answer the following questions: (a) * Your answer is incorrect. How many shares of common stock have been issued as of December 31, 2025? 654,400 shares of common stock have been issued as of December 31, 2025.
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