A recent annual report for Wilmington, Inc. contained the following information:Retained earnings at the end of last year totaled $80,797 million.Net income for the current year was $11,943 million.Par value of the stock is $1 per share.Cash dividends declared in the current year were $6,910 million.The Common Stock account totaled $4,069 million at the end of the current year and $4,069 million at the end of last year.Assume that no other information concerning stockholders’ equity is relevant.Calculate the number of shares issued at the end of the current year?

Number of shares issued at the end of the current year = Common Stock account totaled at the end of…

Answered: A recent annual report for Wilmington,…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A recent annual report for Wilmington, Inc. contained the following information:

Retained earnings at the end of last year totaled $80,797 million.
Net income for the current year was $11,943 million.
Par value of the stock is $1 per share.
Cash dividends declared in the current year were $6,910 million.
The Common Stock account totaled $4,069 million at the end of the current year and $4,069 million at the end of last year.

Assume that no other information concerning stockholders’ equity is relevant.

Calculate the number of shares issued at the end of the current year?

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