ACC 304 All Assignments ACC 304 All Assignments | Page 23

Shares outstanding
9,000
Dividends in arrears
none
Common stock:
Par value per share $10
Shares issued 100,000
Dividends paid per share
$2.00
Market price per share
$47
Additional paid-in capital
$480,000
Unappropriated retained earnings (after closing) $250,000
Retained earnings appropriated for contingencies $280,000
Common treasury stock:
Number of shares
9,000
Total cost $240,000
Net income $610,000
Compute (assume no changes in balances during the past year): (Round
per share and ratios to 2 decimal places, e.g. $15.75 or 15.75%.)
(a)
$
Total amount of stockholders' equity in the balance sheet