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Durinz 2022, Roblez Corporation had the following transactions and events. 1. Declared a cash dividend. 2. Issued par value common stock for cash at par
Durinz 2022, Roblez Corporation had the following transactions and events. 1. Declared a cash dividend. 2. Issued par value common stock for cash at par value. 3. Completed a 2 -for-1 stock split in which $10 par value stock was changed to $5 par value stock. 4. Declared a small stock dividend when the market price was higher than par value. 5. Made a prior period adjustment for overstatement of net income 6. Issued the shares of common stock required by the stock dividend declaration in item no. 4 above 7. Paid the cash dividend in item no. 1 above. 8. Issued par value common stock for cash above parvalue. Indicate the effect[s] of each of the forezoing items on the subdivisions of stockholders' equity. In 2022, Blossam Carporation had net sales of $602,000 and coat of goods sold of $357,000. Operatinz expenses were $149,000, and interest expense was 58,000 . The corporation's tax rate is 20%. The corporation declared preferred dividends of $11,500 in 2022 , and its average common stockhalders' equity during the year was $208,000. (a) Prepare an income statement for Blocsom Corparation. Attempts: 0 of 5 used (b) Compute Elassom Corporation's return on common stockhalders' equity for 2022. (Round answer to 1 decimal place, eg. 10.5\%)
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