The stockholders' equity section of The Seventies Shop is presented here. THE SEVENTIES SHOP Balance Sheet (partial) ($ in thousands) Stockholders' equity: Preferred stock, $50 par value $0 Common stock, $5 par value 16,000 54,400 70,400 Retained earnings 49,000 Treasury stock (2,900) Total stockholders' equity $116,500 Based on the stockholders' equity section of The Seventies Shop, answer the following questions. Remember that all amounts are presented in thousands. Additional paid-in capital Total paid-in capital How many shares of common stock ave been issued? (Enter your answer in total number of shares, not in thousands.) Total paid-in capital is $70.40 million. At what average price per share were the common shares issued? If retained earnings at the beginning of the period was $42 million and net income during the year was $10,622,500, how much was paid in dividends for the year? (Enter your answer in dollars not in millions. (i.e., 5 should be entered as 5,000,000).) If the treasury stock was purchased at $16 per share, how many shares were purchased? (Enter your answer in total number of shares, not in thousands.) How much was the dividend per share? (Hint: Dividends are not paid on treasury stock.) (Round your answer to 2 decimal places.)
The stockholders' equity section of The Seventies Shop is presented here. THE SEVENTIES SHOP Balance Sheet (partial) ($ in thousands) Stockholders' equity: Preferred stock, $50 par value $0 Common stock, $5 par value 16,000 54,400 70,400 Retained earnings 49,000 Treasury stock (2,900) Total stockholders' equity $116,500 Based on the stockholders' equity section of The Seventies Shop, answer the following questions. Remember that all amounts are presented in thousands. Additional paid-in capital Total paid-in capital How many shares of common stock ave been issued? (Enter your answer in total number of shares, not in thousands.) Total paid-in capital is $70.40 million. At what average price per share were the common shares issued? If retained earnings at the beginning of the period was $42 million and net income during the year was $10,622,500, how much was paid in dividends for the year? (Enter your answer in dollars not in millions. (i.e., 5 should be entered as 5,000,000).) If the treasury stock was purchased at $16 per share, how many shares were purchased? (Enter your answer in total number of shares, not in thousands.) How much was the dividend per share? (Hint: Dividends are not paid on treasury stock.) (Round your answer to 2 decimal places.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The stockholders' equity section of The Seventies Shop is presented here.
THE SEVENTIES SHOP
Balance Sheet (partial)
($ in thousands)
Stockholders' equity:
Preferred stock, $50 par value $0
Common stock, $5 par value
Additional paid-in capital
Total paid-in capital
70,400
Retained earnings
49,000
Treasury stock
(2,900)
Total stockholders' equity
$116,500
Based on the stockholders' equity section of The Seventies Shop, answer the following questions. Remember that all
amounts are presented in thousands.
16,000
54,400
How many shares of common stock have been issued? (Enter your answer in total number of shares, not in thousands.)
Total paid-in capital is $70.40 million. At what average price per share were the common shares issued? If retained
earnings at the beginning of the period was $42 million and net income during the year was $10,622,500, how much was
paid in dividends for the year? (Enter your answer in dollars not in millions. (i.e., 5 should be entered as 5,000,000).) If the
treasury stock was purchased at $16 per share, how many shares were purchased? (Enter your answer in total number of
shares, not in thousands.) How much was the dividend per share? (Hint: Dividends are not paid on treasury stock.) (Round
your answer to 2 decimal places.)
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