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At the beginning of the year, Albers, Inc., has total stockholders' equity of $840,000 and 40,000 outstanding shares of a single class of capital stock.
At the beginning of the year, Albers, Inc., has total stockholders' equity of $840,000 and 40,000 outstanding shares of a single class of capital stock. Durlng the year, the corporation completes the following transactions affecting Its stockholders' equity accounts. Jan.10 A 5 percent stock dividend is declared and distributed (market price, \$20 per share). Mar.15 The corporation acquires 2 , 6ee shares of its own capital stock at a cost of $21.60 per share. May 30 A11 2,e80 shares of the treasury stock are reissued at a price of $31.50 per share. July 31 The capital stock is split 2 -for-1. Dec.15 The board of directors declares a cash dividend of $1.10 per share, payable on January 15. Dec.31 Net incone of $525, e0e is reported for the year ended Decenber 31 . Required: Compute the amount of total stockholders' equlty, the number of shares of capltal stock outstanding. and the book value per share following each successlve transaction. Organize your solution as a three-column schedule with these separate column headings: (1) Total Stockholders" Equlty, (2) Number of Shares Outstanding. and (3) Book Value per Share. (Negatlve values should be indicated by a minus sign. Round "Book Value per Share" answers to 2 decimal places.)
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