At December 31, 2017, the records of Kozmetsky Corporation provided the following selected and incomplete data: Common
Question:
At December 31, 2017, the records of Kozmetsky Corporation provided the following selected and incomplete data:
Common shares: no changes during 2017
Shares authorized: 5,000,000.
Shares issued,___; issue price $1 per share.
Net income for 2017: $4,800,000
Common Shares account: $1,500,000
Dividends declared and paid during 2017: $2 per share
Retained Earnings balance, January 1, 2017: $82,900,000
Required:
1. Complete the following:
Shares issued ___________
Shares outstanding ___________
2. Earnings per share is $___________ (Round your answer to two decimal places.)
3. Total dividends paid on common shares during 2017 is $___________
CorporationA Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
Step by Step Answer:
Fundamentals of Financial Accounting
ISBN: 978-1259269868
5th Canadian edition
Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh