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How do I calcualte accumulated deficit for 2014? Joanne's Steakhouse is the largest upscale steakhouse company in the United States, based on total company- and
How do I calcualte accumulated deficit for 2014?
Joanne'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 USDA prime steaks and other premium offerings. Select information from the company's annual report is shown below: a. Common stock, $0.01 par value, 100, 200,000 shares authorized, 23, 355, 356 issued and outstanding at December 31, 2014; 23, 523, 356 issued and outstanding at December 31. 2013. b. Additional paid-in capital: $178, 431 at the end of 2014 and $188, 389,000 at the end of 2013. c. Accumulated deficit: $81, 997,000 at the end of 2013. d.In 2014, net income was $54, 583,000 and a cash dividend of $7, 138,000 was paid. Required: Prepare the stockholders' equity section of the balance sheet at December 31, 2014, using this select informationStep by Step Solution
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