E11-6 Finding Amounts Missing from the Stockholders\' Equity Section LO11-1, 11-
ID: 2528999 • Letter: E
Question
E11-6 Finding Amounts Missing from the Stockholders' Equity Section LO11-1, 11-3 The stockholders' equity section on the balance sheet of Dillard's, a popular department store, is shown below. During the year, the company reported net income of $463,909,000 and declared and paid dividends of $10,002,000 Stockholders' Equity: Common stock, Class A-118,529,925 and 117,706,523 shares issued; ? and ? shares outstanding Common stock, Class B (convertible) 4,010,929 shares issued and outstanding Additicnal paid-in capital Retained earnings Less treasury stock, at cost, Class A-73,099,319 and 61,740,439 shares Current Year Last Year 118,530 117,707 40,000 828,796,000 3,107,344,000 40,000 805,422,000 1,846,312,000) (1355,526,000) Required: 1. What amount was reported in the Common Stock (Class A) account at the end of the current year? (Round your answer to nearest whole number.) stock at $118,530 2. How many shares of Class A Common Stock were outstanding at the end of last year and the end of the current year? Last Year Current Year Number of shares 3. What amount was reported in the Retained Earnings account at the end of last year? (Enter your answer in thousands.) S 2,653,437Explanation / Answer
2). Number of shares Class A outstanding current year: 118,529,925 shares issued minus 73,099,319 shares held as treasury stock = 45,430,606.
Number of shares Class A outstanding last year: 117,706,523 shares issued minus 61,740,439 shares held as treasury stock = 55,966,084
3). Retained earnings last year: $3,107,344,000 minus net income for the current year $463,909,000 plus dividends for the current year $10,002,000 = $2,653,437,000 or in thousands is $2,653,437
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