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Please help! P10-6A Major League Apparel has two classes of stock authorized: 6%. $10 par preferred, and I par value common The following transactions affect
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P10-6A Major League Apparel has two classes of stock authorized: 6%. $10 par preferred, and I par value common The following transactions affect stockholders' equity during 2021. its first year of operations May May January 2 Issue 110,000 shares of common stock for 570 per share February 14 Issue 60,000 shares of preferred stock for $12 per share Purchase 11,000 shares of its own common stock for $60 per share 31 Rosell 5.500 shares of treasury stock for $65 per share December 1 Declare a cash dividend on its common stock of $0.25 per share and a $36.000 (6% of par value) cash dividend on its preferred stock payable to all stockholdere of record on December 15. The dividend is payable on December 30, (in Dividends are not paid on treasury stock) December 30 Pay the cash dividends declared on December 1 Required: Page 531 1. Record cach of these transactions 2. Prepare the stockholders' oquity section of the balance sheet as of December 31, 2021. Net income for the year was $490,000 Calculate and analyze ratios (L010-8) P10-7A Khaki Republic sells clothing and accessories through premium outlet locations and online. Selected financial data for Khaki Republic is provided as follows: (5 in million) Sales $4,158 Net Income 5 144 Stockholdenequity, beginning 51.890 Stockholdenequity.eading 51.931 Average shares outstanding R5.6 Dividends per share $ 0.75 Stock price, endine 547.23 Required: 1. Calculate the return on equity for Khaki Republic. How does it compare with the return on equity for Facebook and IBM reported in the chapter? 2. Calculate the dividend yield for Khaki Republic, How does it compare with the dividend yield for Facebook and IBM Teported in the chapter? 3. Calculate the price carnings ratio for Khaki Republic How does it compare with the price earnings ratio for Facebook and IBM reported in the chapter Step by Step Solution
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