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Academy Driving School reported the following amounts in its financial statements: Year 1 Year 2 Number of common shares 13,200 13,200 Net income $ 48,840
Academy Driving School reported the following amounts in its financial statements:
| Year 1 | Year 2 | |
|---|---|---|
| Number of common shares | 13,200 | 13,200 |
| Net income | $ 48,840 | $ 43,840 |
| Cash dividends paid on common stock | $ 2,300 | $ 2,300 |
| Total stockholders' equity | $ 410,000 | $ 390,000 |
| ||||||||||
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The AICPA Audit Committee Toolkit Private Companies
Authors: AICPA
2nd Edition
1940235464, 978-1940235462
