Riverside Company reported the following items on its statement of shareholders’ equity for the year ended December 31, 2021 (amounts in thousands of dollars):

Requirements

1. Determine the December 31, 2021, balances in Riverside’s shareholders’ equity accounts and total shareholders’ equity.

2. Riverside’s total liabilities on December 31, 2021, are $7,000. What is the company’s debt ratio on this date?

3. Was there a profit or a loss for the year ended December 31, 2021? How can you tell?

4. At what price per share did Riverside issue common stock during 2021?

Transcribed Image Text:

Balance, December 31, 2020. Net earnings........ Other comprehensive income Issuance of stock. Cash dividends.. Balance, December 31, 2021 $3.50 Par Common Stock $400 140 Additional Retained Comprehensive Paid-in Capital Earnings Income $2,200 $6,000 $8 1,370 160 Accumulated Other (65) 5 Total Shareholders' Equity $8,608