ACC 304 Course Great Wisdom / tutorialrank.com ACC 304 Course Great Wisdom / tutorialrank.com | Page 21

21) Sealy Corporation had the following information in its
financial statements for the years ended 2014 and 2015:

Cash dividends for the year 2015

$5,000

Net income for the year ended 2015 87,000

Market price of stock, 12/31/14

10

Market price of stock, 12/31/15

12

Common stockholders' equity, 12/31/14

1,000,000

Common stockholders' equity, 12/31/15

1,200,000

Outstanding shares, 12/31/15 100,000

Preferred dividends for the year ended 2015 10,000