Assume that 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 Additional paid-in capital Retained earnings Less treasury stock, at cost, Class A-73,099,319 and 61,740,439 shares Current Year $ 118,530 40,000 828,796,000 3,107,344,000 (1,846,312,000) Last Year $ 117,707 40,000 805,422,000 (1,355,526,000) Required: 1. What is the par value of Dillard's Class A common stock? 2. How many shares of Class A Common Stock were outstanding at the end of last year and the end of the current year? 3. What amount was reported in the Retained Earnings account at the end of last year? ?
Assume that 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 Additional paid-in capital Retained earnings Less treasury stock, at cost, Class A-73,099,319 and 61,740,439 shares Current Year $ 118,530 40,000 828,796,000 3,107,344,000 (1,846,312,000) Last Year $ 117,707 40,000 805,422,000 (1,355,526,000) Required: 1. What is the par value of Dillard's Class A common stock? 2. How many shares of Class A Common Stock were outstanding at the end of last year and the end of the current year? 3. What amount was reported in the Retained Earnings account at the end of last year? ?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:E11-6 (Static) Finding Amounts Missing from the Stockholders' Equity Section LO11-1, 11-3, 11-7
Assume that 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
Additional paid-in capital
Retained earnings
Less treasury stock, at cost, Class A-73,099,319 and 61,740,439 shares
Current Year
$ 118,530
40,000
828,796,000
3,107,344,000
(1,846,312,000)
Last Year
$ 117,707
40,000
805,422,000
(1,355,526,000)
?
Required:
1. What is the par value of Dillard's Class A common stock?
2. How many shares of Class A Common Stock were outstanding at the end of last year and the end of the current year?
3. What amount was reported in the Retained Earnings account at the end of last year?
4. How is the dollar amount in the treasury stock account at the end of the current year reflected on the asset side of the balance
sheet?
5. During the current year, by what amount did treasury stock transactions increase or decrease stockholders' equity?
6. At the end of the current year, what was the average price paid per share for shares held in treasury stock?
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