QUESTION 1 - 4 E11-4 Reporting Stockholders\' Equity LO11-1, 11-2, 11-3 The foll
ID: 2531448 • Letter: Q
Question
QUESTION 1 - 4
E11-4 Reporting Stockholders' Equity LO11-1, 11-2, 11-3
The following information applies to the questions displayed below The financial statements for Highland Corporation included the following selected information: Common stock Retained earnings Net income Shares issued Shares outstanding Dividends declared and paid S 465,000 S 790,000 S 1,130,000 93,000 69,000 S 620,000 The common stock was sold at a price of $34 per share References Section Break E11-4 Reporting Stockholders' Equity L011-1, 11- 2, 11-3 value: Required information 10.00 points E11-4 Part 1 Required: 1. What is the amount of additional paid-in capital? I paid-in capitalExplanation / Answer
Answers
A
Common Stock
$ 4,65,000.00
B
Shares issued
93000
C=A/B
Share par Value
$ 5.00
D
Share issued price
$ 34.00
E=D-C
Difference between Issue price and par Value
$ 29.00
F=B x E
Amount of Additional Paid In capital [Answer 1]
$ 26,97,000.00
A
Retained Earning ending balances
$ 7,90,000.00
B
Dividends declared
$ 6,20,000.00
C
Net Income
$ 11,30,000.00
D=A+B-C
Retained earning Beginning Balance [Answer 2]
$ 2,80,000.00
A
Shares Issued
93000
B
Shares outstanding
69000
C=A-B
No. of treasury Stock [Answer 3]
24000 shares
A
Net Income
$ 11,30,000.00
B
Shares outstanding
69000
C=A/B
Earning Per share [Answer 4]
$ 16.38
A
Common Stock
$ 4,65,000.00
B
Shares issued
93000
C=A/B
Share par Value
$ 5.00
D
Share issued price
$ 34.00
E=D-C
Difference between Issue price and par Value
$ 29.00
F=B x E
Amount of Additional Paid In capital [Answer 1]
$ 26,97,000.00
A
Retained Earning ending balances
$ 7,90,000.00
B
Dividends declared
$ 6,20,000.00
C
Net Income
$ 11,30,000.00
D=A+B-C
Retained earning Beginning Balance [Answer 2]
$ 2,80,000.00
A
Shares Issued
93000
B
Shares outstanding
69000
C=A-B
No. of treasury Stock [Answer 3]
24000 shares
A
Net Income
$ 11,30,000.00
B
Shares outstanding
69000
C=A/B
Earning Per share [Answer 4]
$ 16.38
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