Question
I'm including the entirety of the question. I've answered everything correctly except for the last three questions. I put ???? for the answers I need
I'm including the entirety of the question. I've answered everything correctly except for the last three questions. I put "????" for the answers I need and I have no idea how to calculate this or where to pull the info from. Thank you!
Stock Dividends and Stock Splits
Whitacre Company's Stockholders' Equity section of the balance sheet on December 31, 2016, was as follows:
Common stock, $10 par value, 60,000 shares$600,000
issued and outstanding
Additional paid-in capital480,000
Retained earnings1,240,000
Total stockholders' equity$2,320,000
On May 1, 2017, Whitacre declared and issued a 15% stock dividend, when the stock was selling for $20 per share. Then on November 1, it declared and issued a 2-for-1 stock split.
Required:
outstanding shares at year-end- *138,000
par value per share - $5
Develop the Stockholders' Equity category of Whitacre's balance sheet as of December 31, 2017.
Whitacre CompanyPartial Balance Sheet - Stockholders' Equity SectionDecember 31, 2017Common stock, $5 par value, 138,000 shares
issued and outstanding- $690,000
Additional paid-in capital????
Retained earnings????
Total stockholders' equity$ ????
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