Nav-Go Enterprises Inc. produces aeronautical navigation equipment. The stockholders’ equity… 1 answer below »

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Nav-Go Enterprises Inc. produces aeronautical navigation equipment. The stockholders’ equity accounts of Nav-Go Enterprises Inc., with balances on January 1, 2016, are as follows:Common Stock, $5 stated value (900,000 shares authorized, 620,000 shares issued)$3,100,000Paid-In Capital in Excess of Stated Value—Common Stock1,240,000Retained Earnings4,875,000Treasury Stock (48,000 shares, at cost)288,000The following selected transactions occurred during the year: