E11-16 Preparing a Statement of Retained Earnings and Partial Balance Sheet and Evaluating Dividend Policy

E11-16 (Algo) Preparing a Statement of Retained Earnings and Partial Balance Sheet and Evaluating Dividend Policy [LO 11-3, LO 11-5] The following account balances were selected from the records of beverage maker Blake Corporation at December 31 after all adjusting entries were completed: Common stock (par $15; authorized 100,000 shares, issued 30,000 shares, of which 1,000 shares are held as treasury stock) Additional paid-in capital-common stock Dividends $ 450,000 175,000 23,000 71,000 20,000 Retained earnings, beginning of year Treasury stock at cost (1,000 shares) Net Income for the year was $40,500. Required: 1-a. Prepare the statement of retained earnings for the year ended December 31. 1-b. Prepare the stockholders' equity section of the balance sheet at December 31. 2. Determine the number of shares of stock that received dividends. 3. Compute the ROE ratio for the current year, assuming total stockholders' equity was $624,000 on December 31 of the previous year. Complete this question by entering your answers in the tabs below. Req 1A Req 18 Req 2 Req 3 Prepare the stockholders' equity section of the balance sheet at December 31. (Amounts to be deducted should be indicated by a minus sign.) BLAKE CORPORATION Balance Sheet (Excerpt) At December 31 Stockholders' Equity Contributed Capital: Common Stock $ 450,000 Additional Paid-In Capital, Common Stock 175,000 Total Contributed Capital 625,000 Retained Earnings 88,500 Dividends (23,000) Total 690,500 Total Stockholders' Equity $ 690,500 "ed text indicates no response was expected in a cell or a formula-based calculation is incorrect; e points deducted E11-16 (Algo) Preparing a Statement of Retained Earnings and Partial Balance Sheet and Evaluating Dividend Policy [LO 11-3, LO 11-5] The following account balances were selected from the records of beverage maker Blake Corporation at December 31 after all adjusting entries were completed: Common stock (par $15; authorized 100,000 shares, issued 30,000 shares, of which 1,000 shares are held as treasury stock) $ 450,000 Additional paid-in capital-common stock Dividends Retained earnings, beginning of year Treasury stock at cost (1,000 shares) 175,000 23,000 71,000 20,000 Net income for the year was $40,500, Required: 1-a. Prepare the statement of retained earnings for the year ended December 31. 1-b. Prepare the stockholders' equity section of the balance sheet at December 31. 2. Determine the number of shares of stock that received dividends. 3. Compute the ROE ratio for the current year, assuming total stockholders' equity was $624,000 on December 31 of the previous year. Complete this question by entering your answers in the tabs below. Req 1A. Req 18 Reg 2 Req 3 Determine the number of shares of stock that received dividends. Number of Shares 19,000 Req 18 Req 3 > E11-16 (Algo) Preparing a Statement of Retained Earnings and Partial Balance Sheet and Evaluating Dividend Policy [LO 11-3, LO 11-5] The following account balances were selected from the records of beverage maker Blake Corporation at December 31 after all adjusting entries were completed: Common stock (par $15; authorized 100,000 shares, issued 30,000 shares, of which 1,000 shares are held as treasury stock) Additional paid-in capital-common stock $ 450,000 175,000 23,000 71,000 Dividends Retained earnings, beginning of year Treasury stock at cost (1,000 shares) 20,000 Net income for the year was $40,500. Required: 1-a. Prepare the statement of retained earnings for the year ended December 31. 1-b. Prepare the stockholders' equity section of the balance sheet at December 31. 2. Determine the number of shares of stock that received dividends. 3. Compute the ROE ratio for the current year, assuming total stockholders' equity was $624,000 on December 31 of the previous year. Complete this question by entering your answers in the tabs below. Req 1A Req 18 Reg 2 Req 3 Compute the ROE ratio for the current year, assuming total stockholders' equity was $624,000 on December 31 of the previous year. (Round your answer to 1 decimal place.) ROE Ratio 6.2 %