ABC Toy Company earned $357 million of net income in 2019 and paid $45 million in dividends.

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ABC Toy Company earned $357 million of net income in 2019 and paid $45 million in dividends. It issued no new stock. Complete the stockholders' equity section for ABC Toy Company:

December 31 (in millions) 2019 2018 Common Stock, Par Value Addit onal Pad in Cap tal in Excess of Par – Common Retain

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Intermediate Accounting

ISBN: 978-0134730370

2nd edition

Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella

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Question Posted: Jun 27, 2019 08:31 AM

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ABC Toy Company earned $357 million of net income in 2019 and paid $45 million in dividends.

Question:

December 31 (in millions) 2019 2018 Common Stock, Par Value Addit onal Pad in Cap tal in Excess of Par – Common Retained Earnings Acumu ated other comprehens ve income (lossl Tota Stockholders' Equity $ 100 1,245 1,104 53 $1,717

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A We use the relationship Beginning Retained Earnings plus Net Income minus Dividends Dec...View the full answer

Intermediate Accounting

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