Clean Water Company reported the following items on its statement of shareholders equity for the year ended December 31, 2010:

Requirements
1. Determine the December 31, 2010, balances in Clean Waters shareholders equity accounts and total shareholders equity on this date.
2. Clean Waters total liabilities on December 31, 2010, are $8,000. What is Clean Waters debt ratio on this date?
3. Was there a profit or a loss for the year ended December 31, 2010? How can you tell?
4. At what price per share did Clean Water issue common stock during2010?

Transcribed Image Text:

Accumulated Other $3 Par Total Common Additional Retained Comprehensive Shareholders' Stock Paid-in Capital Earnings Income Equity $5,712 S12 Balance, December 31, 2009$405 Net earnings Unrealized gain on investments. Issuance of stock. Cash dividends Balance, December 31, 2010... $3,600 950 S1,695 60 240 (50)