The following items were shown on the balance sheet of Westwind Corporation on December 31 2017: 
Instructions
Complete the following statements and show your computations.
(a) The number of shares of common stock issued was _______________.
(b) The number of shares of common stock outstanding was ____________.
(c) The sales price of the common stock when issued was $____________.
(d) The cost per share of the treasury stock was $_______________.
(e) The average issue price of the common stock was $______________.
(f) Assuming that 25% of the treasury stock is sold at $20 per share the balance in the Treasury Stock account would be $_______________.
Definitions:
Loan
A borrowed amount of money that should be returned along with an additional interest payment.
Nominal Interest Rate
The stated annual interest rate on which the compound-interest calculation is based.
Annually Compounded
Interest on an investment that is calculated once a year on both the initial principal and the accumulated interest from previous periods.
Nominal Rate
The annual interest rate not adjusted for inflation or the compounding of interest.
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