The stockholders' equity accounts of Blue Spruce Corp. on January 1, 2022, were as follows. Preferred Stock (7%, $100 par noncumulative. 13,000 shares authorized) Common Stock ($4 stated value, 780,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (13,000 common shares) 1 20 1 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Issued 13,000 shares of common stock for $78,000. Purchased 2,600 additional shares of common treasury stock at $7 per share. Declared a 7% cash dividend on preferred stock, payable November 1. Paid the dividend declared on October 1. Declared a $0.50 per share cash dividend to common stockholders of record on December 15, payable December 31, 2022. Determined that net income for the year was $728,000. Paid the dividend declared on December 1. 1 1 $780,000 2,600,000 31 39,000 1,248,000 1,788,800 104,000
The stockholders' equity accounts of Blue Spruce Corp. on January 1, 2022, were as follows. Preferred Stock (7%, $100 par noncumulative. 13,000 shares authorized) Common Stock ($4 stated value, 780,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (13,000 common shares) 1 20 1 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Issued 13,000 shares of common stock for $78,000. Purchased 2,600 additional shares of common treasury stock at $7 per share. Declared a 7% cash dividend on preferred stock, payable November 1. Paid the dividend declared on October 1. Declared a $0.50 per share cash dividend to common stockholders of record on December 15, payable December 31, 2022. Determined that net income for the year was $728,000. Paid the dividend declared on December 1. 1 1 $780,000 2,600,000 31 39,000 1,248,000 1,788,800 104,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The stockholders' equity accounts of Blue Spruce Corp. on January 1, 2022, were as follows.
Preferred Stock (7%, $100 par noncumulative, 13,000 shares authorized)
Common Stock ($4 stated value, 780,000 shares authorized)
Paid-in Capital in Excess of Par Value-Preferred Stock
Paid-in Capital in Excess of Stated Value-Common Stock
Retained Earnings
Treasury Stock (13,000 common shares)
1
20
During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity.
Issued 13,000 shares of common stock for $78,000.
Purchased 2,600 additional shares of common treasury stock at $7 per share.
Declared a 7% cash dividend on preferred stock, payable November 1.
Paid the dividend declared on October 1.
Declared a $0.50 per share cash dividend to common stockholders of record on December 15, payable December 31, 2022.
Determined that net income for the year was $728,000. Paid the dividend declared on December 1.
1
1
1
$780,000
2,600,000
31
39,000
1,248,000
1,788,800
104,000
Transcribed Image Text:Calculate the payout ratio, earnings per share, and return on common stockholders' equity. (Note: Use the common shares
outstanding on January 1 and December 31 to determine the average shares outstanding.) (Round answers to 2 decimal places,
e.g. 15.25.)
Payout ratio
Earnings per share
Return on common stockholders' equity
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