The stockholders' equity section of The Seventies Shop is presented here. THE SEVENTIES SHOP Balance Sheet (partial) (5 in thousands) Stockholders equity: Preferred stock, $50 par value Common stock, $5 par value Additional paid-in capital Total paid-in capital Retained earnings Treasury stock Total stockholders' equity 17,500 70,000 87,500 50,500 (3,200) $134,800 Based on the stockholders' equity section of The Seventies Shop, answer the following questions. Remember that all amounts are presented in thousands 4. If retained earnings at the beginning of the period was $42 million and net income during the year was $13,450,000, how much was paid in dividends for the year? (Enter your answer in dollars not in millions. (i... 5 should be entered as 5,000,000).) Dividends paid
The stockholders' equity section of The Seventies Shop is presented here. THE SEVENTIES SHOP Balance Sheet (partial) (5 in thousands) Stockholders equity: Preferred stock, $50 par value Common stock, $5 par value Additional paid-in capital Total paid-in capital Retained earnings Treasury stock Total stockholders' equity 17,500 70,000 87,500 50,500 (3,200) $134,800 Based on the stockholders' equity section of The Seventies Shop, answer the following questions. Remember that all amounts are presented in thousands 4. If retained earnings at the beginning of the period was $42 million and net income during the year was $13,450,000, how much was paid in dividends for the year? (Enter your answer in dollars not in millions. (i... 5 should be entered as 5,000,000).) Dividends paid
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 80E: Stockholders' Equity Terminology A list of terms and a list of definitions or examples are presented...
Related questions
Question
![The stockholders' equity section of The Seventies Shop is presented here
THE SEVENTIES SHOP
Balance Sheet (partial)
($ in thousands)
Stockholders' equity:
Preferred stock, $50 par value
Common stock, $5 par value
Additional paid-in capital
Total paid-in capital
Retained earnings
Treasury stock
Total stockholders' equity
se
17,500
70,000
87,500
50,500
(3,200)
$134,800
Based on the stockholders' equity section of The Seventies Shop, answer the following questions. Remember that all
amounts are presented in thousands
Dividends paid
4. If retained earnings at the beginning of the period was $42 million and net income during the year was $13.450,000, how much was
paid in dividends for the year? (Enter your answer in dollars not in millions. (i.e., 5 should be entered as 5,000,000).)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F05a5d9dd-7152-4866-8487-cb9d166cadfb%2Fffc68327-0b88-48ca-83b2-201e40989cd9%2Fvneckcs_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The stockholders' equity section of The Seventies Shop is presented here
THE SEVENTIES SHOP
Balance Sheet (partial)
($ in thousands)
Stockholders' equity:
Preferred stock, $50 par value
Common stock, $5 par value
Additional paid-in capital
Total paid-in capital
Retained earnings
Treasury stock
Total stockholders' equity
se
17,500
70,000
87,500
50,500
(3,200)
$134,800
Based on the stockholders' equity section of The Seventies Shop, answer the following questions. Remember that all
amounts are presented in thousands
Dividends paid
4. If retained earnings at the beginning of the period was $42 million and net income during the year was $13.450,000, 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).)
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![Cornerstones of Financial Accounting](https://www.bartleby.com/isbn_cover_images/9781337690881/9781337690881_smallCoverImage.gif)
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
![College Accounting, Chapters 1-27](https://www.bartleby.com/isbn_cover_images/9781337794756/9781337794756_smallCoverImage.gif)
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
![Financial Accounting: The Impact on Decision Make…](https://www.bartleby.com/isbn_cover_images/9781305654174/9781305654174_smallCoverImage.gif)
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
![Cornerstones of Financial Accounting](https://www.bartleby.com/isbn_cover_images/9781337690881/9781337690881_smallCoverImage.gif)
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
![College Accounting, Chapters 1-27](https://www.bartleby.com/isbn_cover_images/9781337794756/9781337794756_smallCoverImage.gif)
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
![Financial Accounting: The Impact on Decision Make…](https://www.bartleby.com/isbn_cover_images/9781305654174/9781305654174_smallCoverImage.gif)
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
![Financial Accounting](https://www.bartleby.com/isbn_cover_images/9781337272124/9781337272124_smallCoverImage.gif)
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
![Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781337912020/9781337912020_smallCoverImage.jpg)
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
![Financial And Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781337902663/9781337902663_smallCoverImage.jpg)
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,