Use the Incomplete Stockholders' Equity Section of Box Company's Balance

question 78

Multiple Choice

Use the incomplete Stockholders' Equity section of Box Company's balance sheet as of December 31,2017,to answer the following question. ?
$\begin{array}{lr}\text { Common stock } \$ 7 \mathrm{par}, 100,000 \text { shares authorized } & \$ 700,000 \\\text { Additional paid-in capital—common } & 160,000 \\\text { Retained earnings } & ? \\\text { Treasury stock ( } 2,000 \text { shares at cost) } & (16,000) \\\text { Total stockholders' equity } & 974,000\end{array}$
How many shares of common stock are outstanding?

• A)100,000
• B)98,000
• C)78,000
• D)68,000

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Definitions:

Aversion Therapy

A form of psychological treatment in which undesirable behaviors are paired with uncomfortable or unpleasant stimuli to reduce their occurrence.

Sensate Focus

A therapeutic technique used in sex therapy involving a series of exercises designed to build intimacy and reduce performance anxiety by focusing on touch and sensation.

Nondemand Pleasuring

A therapy technique encouraging partners in a sexual relationship to explore physical intimacy and pleasure without the pressure of specific performance outcomes.

Sensate Focus

A technique used in sex therapy involving a series of exercises designed to build intimacy and reduce performance anxiety by focusing on touch and sensation without sexual intercourse.