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I need help calculating the retained earnings in #14 and help with #15 E11-14 Preparing a Statement of Stockholders' Equity and Evaluating Dividend Policy LO11-1,
I need help calculating the retained earnings in #14
and help with #15
E11-14 Preparing a Statement of Stockholders' Equity and Evaluating Dividend Policy LO11-1, 11-3, 11-4, 11-5 [The following information applies to the questions displayed below.J The following account balances were selected from the records of TAC Corporation at the end of the fiscal year after all adjusting entries were completed Common stock ($18 par value; 103,000 shares authorized, 36,000 shares issued, 30,000 shares outstanding) Additional paid-in capital Dividends declared and paid during the year Retained earnings at the beginning of the year Treasury stock at cost (6,000 shares) $648,000 177000 15,000 78,000 (36,000) Net income for the year was $33,000. The stock price is currently $26.69 per share. References Section Break E11-14 Preparing a Statement of Stockholders' Equity and Evaluating Dividend Policy LO11-1, 11-3, 11-4, 11-5 Required 1. Prepare the stockholders' equity section of the balance sheet at the end of the fiscal year. (Amounts to be deducted should be indicated by a minus sign.) TAC Corporation Balance Sheet (Partial) At December 31, This Fiscal Year Stockholders' equity: Contributed capital Common stock S 648,000 Additional paid-in capital 177,000 Total contributed capital 825,000 Retained earnings 825,000 Total contributed capital and retained earnings Treasury stock (36,000) 789,000 Total stockholders' equity 5.00 points E11-14 Part 2 2-a. Compute and evaluate the dividend yield ratio. (Enter your answer as a percentage rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34).) Dividend yield ratio 2-b. Determine the number of shares of stock that received dividends. mber of shares References eBook & ResourcesStep by Step Solution
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