*Exercise 14-1 Sheridan Inc. is considering one of three options: (1) paying a $0.62 cash dividend, (2) distributing a 6% stock dividend, or (3) effecting a 2-for-1 stock split. The current fair value is $14 per share. Help Sheridan decide what to do by completing the following chart (treat each possibility independently): Before Action After Cash Dividend After Stock Dividend After Stock Split $1,917,000 1,917,000 1,917,000 Total assets $ Total liabilities $85,000 85,000 85,000 85,000 Common shares 1,026,000 1,026,000 1,026,000 Retained earnings 806,000 806,000 Total shareholders' equity 1,832,000 1,832,000 1,832,000 1,832,000 Total liabilities and shareholders' equity $1,917,000 1,917,000 1,917,000 $ Number of common shares 57,000 57,000 Question Attempts: 0 of 15 Copyright 2000-2020 by John Wiley & Sons, Inc. or related companies. All rights reserved. *Exercise 14-13 The following financial information is available for Sunland Ltd. as at December 31 (in thousands, except for per share amounts): 2017 2015 Profit Preferred share dividends (total) Weighted average number of common shares Dividends per common share Market price per common share $1,859 $73 472 $2.50 $43.00 2016 $2,003 $43 470 $2.25 $49.75 $2,503 $30 471 $2.10 $56.25 (a) Calculate the earnings per share, price-earnings ratio, and payout ratio for the common shareholders for each of the three years. (Round price-earnings ratio answers to 1 decimal place, e.g. 52.7. Round payout ratio answers to 3 decimal places, e.g. 5.275.) 2017 2016 2015 Earnings per share $ Price-earnings ratio times times times Payout ratio opyright 2000-2020 by John Wiley & Sons, Inc. or related companies. All rights reserved. Pharoah Rental Corporation had the following balances in its shareholders' equity accounts at January 1, 2017: Accumulated other comprehensive income (loss) $ (21,000) Contributed surplus-reacquisition of common shares 535,000 Retained earnings 1,520,000 Common shares (38,000 shares) 874,000 Pharoah had the following transactions and events during 2017: Feb. 2 Repurchased 1,000 shares for $49,000. Apr. 17 Declared and paid cash dividends of $62,000. Oct. 29 Issued 2,300 shares for $109,000 cash. Dec. 31 Reported comprehensive income of $377,000, which included other comprehensive income of $34,000. Prepare journal entries to record the transactions that took place during 2017. (Credit account titles are automatically indented when the amount required, select "No Entry" for the account titles and enter o for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Feb. 2 Prepare a statement of changes in shareholders' equity at December 31, 2017. (Enter negative amounts using either a negative sign preceding th