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Answer these questions about Acton Food Specialties' shareholders' equity transactions: 1. If the company's income tax rate is 36 percent, how much income before income
Answer these questions about Acton Food Specialties' shareholders' equity transactions: 1. If the company's income tax rate is 36 percent, how much income before income tax did Acton Food Specialties report on the income statement? 2. What is the stated value of a common share at June 30,203 ? 3. At what price per share did Acton Food Specialties issue its common shares during the year? 4. Acton Food Specialties's statement of changes in shareholders' equity lists the share transactions in the order in which they occurred. What was the percentage of the stock dividend? Acton Food Specialties Inc. reported the Statement of Changes in Shareholders' Equity shown for the year ended June 30, 20X4. The company was founded in 201 and issued 452 million common shares. There had been no further share transactions until 20X4. Requirement 1. If the company's income tax rate is 36 percent, how much income before income tax did Acton Food Specialties report on the income statement? Enter the amounts into the following table, and then calculate the income before income tax. Be sure to enter the income tax rate as a percentage. (Enter amounts in millions as provided in the problem statement. Round your answer to the nearest whole number.) 20X3? Enter the amounts into the following table, and then calculate the stated value per common share. (Enter amounts in millions as provided in the problem statement. Round your answer to the nearest cent.) Requirement 3. At what price per share did Acton Food Specialties issue its common shares during the year? Enter the amounts into the following table, and then calculate the issue price per common share. (Enter amounts in millions as provided in the problem statement. Round your answer to the nearest whole dollar.) Requirement 4. Acton Food Specialties's Statement of Changes in Shareholders' Equity lists the share transactions in the order in which they occurred. What was the percentage of the stock dividend? Enter the amounts into the following table, and then calculate the stock dividend percentage. (Enter amounts in millions as provided in the problem statement. Round the percentage to the nearest hundredth percent, X.XX\%.)
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