Joan Corporation began operations in 2000 by issuing 20,000 share of its no-par common stock for $6 per share. The following details provide information about the company's stock in the years since that time:
a. In 2002, the company issued an additional 40,000 share of common stock for $20 per share.
b. Joan Corporation stock is traded on the New York Stock Exchange. During an average year, about 25,000 share of its common stock are sold.
c. On December 31, 2004, Joan Corporation common stock was quoted on the NYSE at $58 per share.
d. On December 31, 2005, Joan Corporation common stock was quote on the NYSE at $65 per share.
REQUIRED:
a.) Which of the stock transactions described above involved the primary stock market and which ones involved the secondary stock market?
b.) How much money has Joan Corporation received in total from the sales of its common stock since it was incorporated in 2000?
c.) When Joan Corporation prepares its balance sheet as of December 31, 2005, what dollar amount will it show in the stockholders' equity section for common stock?
d.) How many share of stock are outstanding at December 31, 2005?
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