Shown below is information relating to the stockholders\' equity of Clydsdale Co

Question

Shown below is information relating to the stockholders' equity of Clydsdale Corporation at December 31, 2010: 4% cumulative preferred stock. $80 par, 100,000 shares authorized. 20.000 shares issued $1,600,000 Common stock. S2.50 par. 1.000.000 shares authorized, 1,500.000 600.000 shares issued (of which 8.000 are held in treasury) Additional paid-in capital: preferred stock 800.000 Additional paid-in capital: common stock 900.000 Treasury stock (8.000 common shares) (192.000) Retained earnings 1,825,000 Refer to the information above. If Clydesdale Corporation had reacquired the 8,000 shares of treasury stock early in 2010, what was the purchase price per share? $2.50 per share. $4.00 per share. $24 per share. More information is needed to determine the purchase price.

Explanation / Answer

=192000/8000 = 24

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