Healthy Life Co. is an HMO for businesses in the Fresno area. The following account balances appear on Healthy Life's balance sheet: Common stock (3,000,000 shares authorized; 2,200,000 shares issued), $15 par, $33,000,000; Paid-in capital in excess of par-common stock, $9,000,000; and Retained earnings, $89,550,000. The board of directors declared a 5% stock dividend when the market price of the stock was $18 a share. Healthy Life reported no income or loss for the current year.
Healthy Life Co. is an HMO for businesses in the Fresno area. The following account balances appear on Healthy Life's balance sheet: Common stock (3,000,000 shares authorized; 2,200,000 shares issued), $15 par, $33,000,000; Paid-in capital in excess of par-common stock, $9,000,000; and Retained earnings, $89,550,000. The board of directors declared a 5% stock dividend when the market price of the stock was $18 a share. Healthy Life reported no income or loss for the current year.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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HOW DO I DO EX 12-10
![Healthy Life Co. is an HMO for businesses in the Fresno area. The following account balances
appear on Healthy Life's balance sheet: Common stock (3,000,000 shares authorized; 2,200,000
shares issued), $15 par, $33,000,000; Paid-in capital in excess of par-common stock, $9,000,000;
and Retained earnings, $89,550,000. The board of directors declared a 5% stock dividend when
the market price of the stock was $18 a share. Healthy Life reported no income or loss for
the current year.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F42bd844b-485a-4848-a7e0-63e6cdeb9f23%2F43c70cac-81a5-43c4-b150-64872ddeeae5%2Fqm66p3.png&w=3840&q=75)
Transcribed Image Text:Healthy Life Co. is an HMO for businesses in the Fresno area. The following account balances
appear on Healthy Life's balance sheet: Common stock (3,000,000 shares authorized; 2,200,000
shares issued), $15 par, $33,000,000; Paid-in capital in excess of par-common stock, $9,000,000;
and Retained earnings, $89,550,000. The board of directors declared a 5% stock dividend when
the market price of the stock was $18 a share. Healthy Life reported no income or loss for
the current year.
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