I have completed a-c on my own and now I am stock on part D on calculating the payout ratio.
D. Payout ratio %???
Earnings per share $?????
Return on common stockholders equity %????
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Problem 11-2A (Part Level Submission) The stockholders' equity accounts of Bridgeport Corp. on January 1, 2017, were as follows. Preferred Stock (7%, $100 par noncumulative, 5,000 shares authorized $300,000 Common Stock ($4 stated value, 300,000 shares authorized) 1,000,000 Paid-in Capital in Excess of Par Value-Preferred Stock 15,000 Paid-in Capital in Excess of Stated Value-Common Stock 180,000 Retained Earnings 99,500 Treasury Stock (5,000 common shares) 40,000 During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 5,000 shares of common stock for $35,000. Mar. 20 Purchased 1,000 additional shares of common treasury stock at $8 per share. Oct. 1 Declared a 7% cash dividend on preferred stock, payable November 1. Nov. 1 Paid the dividend declared on October 1. Dec. 1 Declared a $0.75 per share cash dividend to common stockholders of record on December 15, payable December 31, 2017. Dec. 31 Determined that net income for the year was $280,500. Paid the dividend declared on December 1. (a) Your answer is correct. amounts. Round answers to 0 decimal places, e.g. 5,275.) Journalize the transactions. (Include entries to close net income and dividends to Retained Earnings.) (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the Date Account Titles and Explanation Debit Credit [Feb. 1 Cash 35000 Common Stock 20000 Paid-in Capital in Excess of Stated Value-Commor 5000 Mar. 20 4 Treasury Stock 000 Cash 3000 Oct. 1 Cash Dividends 21000 Dividends Payable 21000 Nov. 1 Dividends Payable 2100 Cash 21000 Dec. 1 Cash Dividends 186750 Dividends Payable 186750 Dec. 31 4 Income Summary 280500 Retained Earnings 8050 To record net income) Dec. 31 4 Retained Earnings 207750 Cash Dividends 20775 (To close cash dividends) Dec. 31 4 Dividends Payable 86750 Cash 186750 (To record payment of cash dividends payable)Enter the beginning balances in the accounts and post the journal entries to the stockholders' equity accounts. (Post entries in the order of journal entries posted in the previous part. For accounts that have zero ending balance, the entry should be the balance date and zero for the amount.) Preferred Stock T 1/1 Bal. 30000 12/31 Bal. 4 300000 Common Stock 1/1 Bal. 000000 2/1 20000 12/31 Bal. 4 1020000 Paid-in Capital in Excess of Par Value-Preferred Stock 1/1 Bal. 15000 12/31 Bal. 15000 Paid-in Capital in Excess of Stated Value-Common Stock 1/1 Bal. 480000 2/1 15000 12/31 Bal. 495000 Retained Earnings [12/31 207750 1/1 Bal. 699500 12/31 280500 12/31 Bal. 4 772250 Cash Dividends 10/1 21000 12/31 207750 12/1 186750 12/31 Bal. 4 Treasury Stock [1/1 Bal. 40000 3/20 12/31 Bal. + 4800 Click if you would like to Show Work for this question: Open Show WorkYour answer is correct. Prepare the stockholders' equity section of the balance sheet at December 31, 2017. RIDGEPORT CORP Partial Balance Sheet December 31, 2017 Stockholders' Equity 4 Paid-in Capital Capital Stock Preferred Stock 300000 Common Stock 1020000 Total Capital Stock 1320000 Additional Paid-in Capital Paid-in Capital in Excess of Par Value-Preferred St 15000 Paid-in Capital in Excess of Stated Value-Commor 495000 Total Additional Paid-in Capital 510000 Total Paid-in Capital 1830000 v Retained Earnings 72250 Total Paid-in Capital and Retained Earnings + 2602250 Less + Treasury Stock -48000 Total Stockholders' Equity 2554250 Click if you would like to Show Work for this question: Open Show WorkV (1') Calculate the payout ratio, earnings per share, and return on common stockholders' equity. (Round earning per share to 2 decimal places, (-3.9. $2.66 and all other answers to 1 decimal place. 17.5%.) Payout ratio % Earnings per share Return on common stockholders' equity % HUG Click if you would like to Show Work for this question: gpen Show Work
