Please Refer to the Following Information for Peartree Company

question 61

True/False

Please refer to the following information for Peartree Company:
• Common stock, $1.00 par, 100,000 issued, 95,000 outstanding
• Paid-in capital in excess of par: $2,150,000
• Retained earnings: $910,000
• Treasury stock: 5,000 shares purchased at $20 per share
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If Peartree purchases an additional 1,000 shares of treasury stock at $18 per share, the total equity of the company will go up by $18,000.

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Definitions:

Intimate Touching

Physical contact aimed at expressing love, affection, or sexual interest.

Lubrication

The application of a slippery substance to reduce friction between surfaces.

Condom Use

The practice of using condoms as a barrier method to prevent sexual transmission of infections and as a contraceptive.

Massage Oils

Aromatic oils that are gently rubbed into the skin to facilitate massage, promoting relaxation and improving skin health.