E11-8 (Algo) Reporting Stockholders' Equity LO11-1, 11-3, 11-7 Abe's Steakhouse is the largest upscale steakhouse company in the United States, based on total company- and franchisee-owned restaurants. The company's menu features a broad selection of high-quality steaks and other premium offerings. Assume the information below is from a recent annual report: a. Common stock, $0.01 par value; 100,000,000 shares authorized; 23,413,356 issued and outstanding at the end of the current year, 23,245,356 issued and outstanding at the end of last year. b. Additional paid-in capital: $195,389,000 at the end of the current year and $177,431,000 at the end of last year. c. Retained earnings/ (accumulated deficit): ($80,997,000) at the end of last year. d. In the current year, net income was $55,483,000 and a cash dividend of $7,138,000 was paid. Required: Prepare the stockholders' equity section of the balance sheet to reflect the above information for the current year and last year. (Amounts to be deducted should be indicated with a minus sign.) ABE'S STEAKHOUSE Balance Sheet (Partial) Current Year Last Year Shareholders' equity: Total shareholders' equity Required information E11-4 (Static) Reporting Stockholders' Equity LO11-1, 11-2, 11-3 [The following information applies to the questions displayed below.] The financial statements for Highland Corporation included the following selected information: Common stock Retained earnings Net income Shares issued Shares outstanding Dividends declared and paid $1,600,000 $ 900,000 $1,000,000 90,000 80,000 $ 800,000 The common stock was sold at a price of $30 per share. E11-4 Part 1 Required: 1. What is the amount of additional paid-in capital? Additional paid-in capital