The following account balances relate to the stockholders' equity accounts of Molder Corp. at year-end. Common stock, 10,500 and 10,000 shares, issued and outstanding, respectively, for 2022 and 2021 Preferred stock, 5,000 shares, issued and outstanding Retained earnings (a) Your answer is correct. (b) A small stock dividend was declared and issued in 2022. The market price of the shares issued was $8,800. Cash dividends of $20,000 were declared and paid in both 2022 and 2021. The common stock and preferred stock have no par or stated value. 2022 Net income $ $160,800 125,000 300,000 What was the amount of net income reported by Molder Corp. in 2022? 58,800 2021 $140,000 125,000 270,000 Determine the amounts of any cash inflows or outflows related to the common stock and dividend accounts in 2022. ?
The following account balances relate to the stockholders' equity accounts of Molder Corp. at year-end. Common stock, 10,500 and 10,000 shares, issued and outstanding, respectively, for 2022 and 2021 Preferred stock, 5,000 shares, issued and outstanding Retained earnings (a) Your answer is correct. (b) A small stock dividend was declared and issued in 2022. The market price of the shares issued was $8,800. Cash dividends of $20,000 were declared and paid in both 2022 and 2021. The common stock and preferred stock have no par or stated value. 2022 Net income $ $160,800 125,000 300,000 What was the amount of net income reported by Molder Corp. in 2022? 58,800 2021 $140,000 125,000 270,000 Determine the amounts of any cash inflows or outflows related to the common stock and dividend accounts in 2022. ?
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 18P
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