The following information was extracted from the records of Cascade Company at the end of the fiscal year after all adjusting entries were completed: Common stock ($0.01 par value; 200,000 shares authorized, 54,000 shares issued, 52,000 shares outstanding) $ 540 Additional paid-in capital 456,000 Dividends declared and paid during the year 22,000 Retained earnings at the end of the year 312,000 Treasury stock at cost (2,000 shares) (15,000 ) Net income for the year was $95,000. The stock price is currently $10 per share. Required:. 1. Prepare the stockholders' equity section of the balance sheet at the end of the fiscal year. 2. Compute the dividend yield ratio. Determine the number of shares of stock that received dividends. Prepare the stockholders' equity section of the balance sheet at the end of the fiscal year. (Amounts to be deducted should be indicated with a minus sign.) Cascade Company Balance Sheet (Partial) At December 31, Current Year Stockholders’ equity: Contributed capital: Total contributed capital Total contributed capital and retained earnings Total stockholders’ equity Compute the dividend yield ratio. Determine the number of shares of stock that received dividends. (Round Dividend yield ratio to 2 decimal places.) Dividend yield ratio % Number of shares
The following information was extracted from the records of Cascade Company at the end of the fiscal year after all
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Common stock ($0.01 par value; 200,000 shares authorized, 54,000 shares issued, 52,000 shares outstanding) |
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540 |
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Additional paid-in capital |
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456,000 |
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Dividends declared and paid during the year |
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22,000 |
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312,000 |
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(15,000 |
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Net income for the year was $95,000. The stock price is currently $10 per share.
Required:.
1. Prepare the
2. Compute the dividend yield ratio. Determine the number of shares of stock that received dividends.
Prepare the stockholders' equity section of the balance sheet at the end of the fiscal year. (Amounts to be deducted should be indicated with a minus sign.)
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Cascade Company |
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Balance Sheet (Partial) |
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At December 31, Current Year |
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Stockholders’ equity: |
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Contributed capital: |
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Total contributed capital |
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Total contributed capital and retained earnings |
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Total stockholders’ equity |
Compute the dividend yield ratio. Determine the number of shares of stock that received dividends. (Round Dividend yield ratio to 2 decimal places.)
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