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Roberto Corporation was organized on January 1, 2021. The firm was authorized to issue 82,000 shares of $5 par common stock. During 2021, Roberto had the following transactions relating to shareholders' equity:  Issued 10,800 shares of common stock at $5.50 per share.  Issued 20,600 shares of common stock at $9.10 per share.  Reported a net income of $94,000.  Paid dividends of $46,000.  Purchased 3,700 shares of treasury stock at $11.10 (part of the 20,600 shares issued at $9.10).    What is total shareholders' equity at the end of 2021? $258,720. $253,790. $256,590. $299,790.

Roberto Corporation was organized on January 1, 2021. The firm was authorized to issue 82,000 shares of $5 par common stock. During 2021, Roberto had the following transactions relating to shareholders' equity:  Issued 10,800 shares of common stock at $5.50 per share.  Issued 20,600 shares of common stock at $9.10 per share.  Reported a net income of $94,000.  Paid dividends of $46,000.  Purchased 3,700 shares of treasury stock at $11.10 (part of the 20,600 shares issued at $9.10).    What is total shareholders' equity at the end of 2021? $258,720. $253,790. $256,590. $299,790.

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 5MC: Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par...
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  • Roberto Corporation was organized on January 1, 2021. The firm was authorized to issue 82,000 shares of $5 par common stock. During 2021, Roberto had the following transactions relating to shareholders' equity:

     Issued 10,800 shares of common stock at $5.50 per share.
     Issued 20,600 shares of common stock at $9.10 per share.
     Reported a net income of $94,000.
     Paid dividends of $46,000.
     Purchased 3,700 shares of treasury stock at $11.10 (part of the 20,600 shares issued at $9.10).
     
     What is total shareholders' equity at the end of 2021?
    1. $258,720.
    2. $253,790.
    3. $256,590.
    4. $299,790.
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