$11$ Homework i

Abe's Steakhouse is the largest upscale steakhouse company in the United States, based on total company$-$and franchiseeowned restaurants. The company's menu features a broad selection of high$-$quality steaks and other premium offerings. Assume the information below is from a recent annual report:

a$.$ Common stock, $$0\mathrm{.}01$ par value; $100,180,000$ shares authorized; $23,423,356$ issued and outstanding at the end of the current year; $23,265,356$ issued and outstanding at the end of last year.

b$.$ Additional paid$-$in capital: $$199,389,000$ at the end of the current year and $$172,431,000$ at the end of last

c$.$ Accumulated deficit: $($$$82,097,000)$ at the end of last year.

d$.$ In the current year, net income was $$55,283,000$ and a cash dividend of $$7,138,000$ was paid.

Required:

Prepare the stockholders' equity section of the balance sheet to reflect the above information for the current year. Note: Amounts to be deducted should be indicated with a minus sign.

$\backslash$table$[[$ABE$\text{'}$S STEAKHOUSE$],[$Balance Sheet $($Partial$)],[,$Current Year,Last Year$],[$Stockholders$\text{'}$ equity:$],[$Common stock,$234,234,232,654],[,,],[$Additional paid$-$in capital,$199,389,000,172,431,000$