The shareholders' equity section of Flores Design Company's December 31, 2018, balance sheet appeared as follows: Contributed Capital: Preferred stock, $100 par (10,000 shares authorized, 1,250 shares issued) $125,000 Additional paid-in capital on preferred stock 55,000 Common stock, $10 par (60,000 shares authorized, 15,000 shares issued) 150,000 Additional paid-in capital on common stock 105,000 Total contributed capital $435,000 Retained earnings 78,000 Contributed capital and retained earnings $513,000 Less: Treasury stock (300 shares of common at $14 per share) (4,200) Total Shareholders' Equity $508,800 During 2019, the company entered into the following transactions affecting shareholders' equity: Issued 250 shares of preferred stock at $164 per share. Issued 3,000 shares of common stock at $17 per share. Reacquired 200 of its own common shares as treasury stock for $15 per share. Reissued 250 shares of treasury stock at $17 per share (FIFO basis). Net income for 2019 was $46,500. Dividends of $25,000 were distribute. Prepare a statement of shareholders' equity for the year ended December 31, 2019, for Flores. If an amount is zero, enter "0". Compute the return on shareholders' equity for 2019

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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

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The shareholders' equity section of Flores Design Company's December 31, 2018, balance sheet appeared as follows:

Contributed Capital:
Preferred stock, $100 par (10,000 shares authorized, 1,250 shares issued)	$125,000
Additional paid-in capital on preferred stock	55,000
Common stock, $10 par (60,000 shares authorized, 15,000 shares issued)	150,000
Additional paid-in capital on common stock	105,000
Total contributed capital	$435,000
Retained earnings	78,000
Contributed capital and retained earnings	$513,000
Less: Treasury stock (300 shares of common at $14 per share)	(4,200)
Total Shareholders' Equity	$508,800

During 2019, the company entered into the following transactions affecting shareholders' equity:

Prepare a statement of shareholders' equity for the year ended December 31, 2019, for Flores. If an amount is zero, enter "0".
Compute the return on shareholders' equity for 2019

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