Common stock $1.50 par, 1800 million shares issued.....................$2700

Question

Capital in excess of par..........$8100
Retained Earnings.................$1200
Treasury stock....................$0
Total S. Equity.................$12,000

If million shares of common stock are issued for $12.50 per share, 1 million shares of treasury stock are purchased for $14 million and $30 million cash dividends are declared and paid, update the above stockholders equity section.