Twin Towns, Inc., was authorized to issue 200,000 shares of common stock and originally issued 100,000 shares of $10 par value stock at $18 per share....

Twin Towns, Inc., was authorized to issue 200,000 shares of common stock and originally issued 100,000 shares of $10 par value stock at $18 per share. Subsequently, 25,000 shares were repurchased at $20, of which 10,000 were subsequently resold at $23.