Shown Below Is Information Relating to the Shareholders' Equity of Brookdale

question 24

Multiple Choice

Shown below is information relating to the shareholders' equity of Brookdale Corporation at December 31, 2010:
$\begin{array} { l r } 11 \% \text { non-cumulative preference share, } \$ 130 \text { par, 100,000 shares authorized, } & \$ 1,300,000 \\10,000 \text { shares issued } & \\\text { Ordinary shares, } \$ 1.25 \text { par, } 1,000,000 \text { shares authorized, } 600,000 \text { shares } & 750,000 \\\text { issued (of which } 6,000 \text { are held in treasury ) } & \\\text { Share premium: preference shares } & 500,000 \\\text { Share premium: ordinary shares } & 900,000 \\\text { Share premium: treasury share transactions } & 6,000 \\\text { Treasury shares (at cost: } 6,000 \text { ordinary shares) } & ( 192,000 ) \\\text { Retained earnings } & 1,350,000 ) \end{array}$

-Refer to the above data. If Brookdale Corporation had reacquired 7,000 treasury shares early in 2010, and this was the company's only treasury share transaction, then some treasury share must have been sold during 2010 for:

• A) $32 per share.
• B) $38 per share.
• C) $27 per share.
• D) $6 per share.

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