The stockholders' equity section of Ironworks is presented here. IRONWORKS Balance Sheet (partial) ($ and shares in thousands) Stockholders' equity: Preferred stock, $1 par value Common stock, $1 par value Additional paid-in capital Total paid-in capital Retained earnings Treasury stock, 12,000 common shares Total stockholders' equity Based on the stockholders' equity section of Ironworks, answer the following questions. Remember that all amounts are presented in thousands. Problem 10-4A (Algo) Part 4 Net income $5,200 22,000 675,200 702,400 280,000 (288,000) $694,400 4. If retained earnings at the beginning of the period was $242 million and $22 million was paid in dividends during the year, what w he net income for the year? (Enter your answer in millions (i.e., 5,000,000 should be entered as 5).) million
The stockholders' equity section of Ironworks is presented here. IRONWORKS Balance Sheet (partial) ($ and shares in thousands) Stockholders' equity: Preferred stock, $1 par value Common stock, $1 par value Additional paid-in capital Total paid-in capital Retained earnings Treasury stock, 12,000 common shares Total stockholders' equity Based on the stockholders' equity section of Ironworks, answer the following questions. Remember that all amounts are presented in thousands. Problem 10-4A (Algo) Part 4 Net income $5,200 22,000 675,200 702,400 280,000 (288,000) $694,400 4. If retained earnings at the beginning of the period was $242 million and $22 million was paid in dividends during the year, what w he net income for the year? (Enter your answer in millions (i.e., 5,000,000 should be entered as 5).) million
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Required information
Problem 10-4A (Algo) Analyze the stockholders' equity section (LO10-7)
[The following information applies to the questions displayed below.]
The stockholders' equity section of Ironworks is presented here.
IRONWORKS
Balance Sheet (partial)
($ and shares in thousands)
Stockholders' equity:
Preferred stock, $1 par value
Common stock, $1 par value
Additional paid-in capital
Total paid-in capital
Retained earnings
Treasury stock, 12,000 common shares
Total stockholders' equity
Problem 10-4A (Algo) Part 4
Based on the stockholders' equity section of Ironworks, answer the following questions. Remember that all amounts are
presented in thousands.
Net income
$5,200
22,000
675,200
702,400
280,000
(288,000)
$694,400
4. If retained earnings at the beginning of the period was $242 million and $22 million was paid in dividends during the year, what was
the net income for the year? (Enter your answer in millions (i.e., 5,000,000 should be entered as 5).)
million](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1fe61787-87ec-42ef-9b74-8862c323e0b5%2F8b43b0d2-01f8-44b7-8333-854d8eea0e4d%2Fvml4ofn_processed.png&w=3840&q=75)
Transcribed Image Text:Required information
Problem 10-4A (Algo) Analyze the stockholders' equity section (LO10-7)
[The following information applies to the questions displayed below.]
The stockholders' equity section of Ironworks is presented here.
IRONWORKS
Balance Sheet (partial)
($ and shares in thousands)
Stockholders' equity:
Preferred stock, $1 par value
Common stock, $1 par value
Additional paid-in capital
Total paid-in capital
Retained earnings
Treasury stock, 12,000 common shares
Total stockholders' equity
Problem 10-4A (Algo) Part 4
Based on the stockholders' equity section of Ironworks, answer the following questions. Remember that all amounts are
presented in thousands.
Net income
$5,200
22,000
675,200
702,400
280,000
(288,000)
$694,400
4. If retained earnings at the beginning of the period was $242 million and $22 million was paid in dividends during the year, what was
the net income for the year? (Enter your answer in millions (i.e., 5,000,000 should be entered as 5).)
million
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