Incubus Corporation began with an investment by shareholders of $33,000. a. In its first year, its income showed a deficit of $6,300. What would the equity section of its balance sheet show at year end? (Negative answers should be indicated by a minus sign. Omit $ sign in your response.) Common stock Retained earnings Total Stockholders' Equity b. In the second year, it had an income of $16,700 and a dividend of $5,300 was paid. What would the equity section of its balance sheet show at year end? Common stock Retained earnings. Total Stockholders' Equity $ Common stock Retained earnings Total Stockholders' Equity $ c. In the third year, Incubus sold more shares for a value of $16,500, earned income of $11,300, and paid a dividend of $5,300. What would the equity section of its balance sheet show at year end?
Incubus Corporation began with an investment by shareholders of $33,000. a. In its first year, its income showed a deficit of $6,300. What would the equity section of its balance sheet show at year end? (Negative answers should be indicated by a minus sign. Omit $ sign in your response.) Common stock Retained earnings Total Stockholders' Equity b. In the second year, it had an income of $16,700 and a dividend of $5,300 was paid. What would the equity section of its balance sheet show at year end? Common stock Retained earnings. Total Stockholders' Equity $ Common stock Retained earnings Total Stockholders' Equity $ c. In the third year, Incubus sold more shares for a value of $16,500, earned income of $11,300, and paid a dividend of $5,300. What would the equity section of its balance sheet show at year end?
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter9: Metric-analysis Of Financial Statements
Section: Chapter Questions
Problem 9.17E: Profitability metrics The following selected data were taken from the financial statements of The...
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