December 31 Increase or (Decrease) 2022 2021 Amount Percentage Assets Current assets $123,400 $100,000 %24 Plant assets (net) 394,350 330,000 Total assets $517,750 $430,000 Liabilities Current liabilities $86,328 $72,000 Long-term liabilities 133,280 85,000 Total liabilities 219,608 157,000 Stockholders' Equity Common stock, $1 par 166,440 120,000 Retained earnings 131,702 153,000 Total stodcholders' equity 298,142 273,000 Total liabilities and $517,750 $430,000 stockholders' equity

December 31 Increase or (Decrease) 2022 2021 Amount Percentage Assets Current assets $123,400 $100,000 %24 Plant assets (net) 394,350 330,000 Total assets $517,750 $430,000 Liabilities Current liabilities $86,328 $72,000 Long-term liabilities 133,280 85,000 Total liabilities 219,608 157,000 Stockholders' Equity Common stock, $1 par 166,440 120,000 Retained earnings 131,702 153,000 Total stodcholders' equity 298,142 273,000 Total liabilities and $517,750 $430,000 stockholders' equity

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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Find earnings per share 2019
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View Policies Current Attempt in Progress Wildhorse Company reported retained earnings at December 31, 2021, of $318,500. Wildhorse had 198,500 shares of common stock outstanding at the beginning of 2022. The following transactions occurred during 2022. 1. 2. 3. A cash dividend of $0.70 per share was declared and paid. A 10% stock dividend was declared and distributed when the market price per share was $14 per share. Net income was $283,000. Compute the ending balance in retained earnings at the end of 2022. Retained earnings SA
Rhodes Corporation: Income Statements for Year Ending December 31(Millions of Dollars) 2020 2019Sales $ 11,000 $ 10,000Operating costs excluding depreciation 9,618 8,730Depreciation and amortization 370 330 Earnings before interest and taxes $ 1,012 $ 940Less interest 280 200 Pre-tax income $ 732 $ 740Taxes (25%) 183 185Net income available to common stockholders $ 549 $ 555Common dividends $ 204 $ 200Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2020 2019AssetsCash $ 650 $ 600Short-term investments 230 200Accounts receivable 2,750 2,500Inventories 1,250 1,200 Total current assets $ 4,880 $ 4,500Net plant and equipment 3,750 3,500Total assets $ 8,630…
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View Policies Current Attempt in Progress The shareholders' equity accounts of Sandhill Inc. at December 31, 2023, are as follows: Preferred shares, $3 noncumulative, unlimited number authorized, 5,000 issued Common shares, unlimited number authorized, 140,000 issued Retained earnings Accumulated other comprehensive loss Sandhill has a 35% income tax rate. During the following fiscal year ended December 31, 2024, the company had the following transactions and events: Feb. July Dec. 1 Repurchased 10,000 common shares for $40,000. Announced a 2-for-1 preferred stock split. The market price of the preferred shares at the date of announcement was $150. 12 1 $500,000 700,000 550,000 (48,000) Dec. 18 Dec. 31 Declared the annual cash dividend ($1.50 post-split) to the preferred shareholders of record on January 10, 2025, payable on January 31, 2025, Declared a 10% stock dividend to common shareholders of record at December 20, distributable on January 12. 2025. The fair value of the common…
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