Power Drive Corporation designs and produces a line of golf equipment and golf apparel. Power Drive has 100,000 shares of common stock outstanding as of the beginning of 2021. Power Drive has the following transactions affecting stockholders' equity in 2021, March 1 Issues 65,000 additional shares of $1 par value common stock for $62 per share. May 10 Purchases 6,000 shares of treasury stock for $65 per share. June 1 Declares a cash dividend DE $2.00 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock.) July 1 Pays the cash dividend declared on June 1. October 2i Resells 3,000 shares of treasury stock purchased on May 10 for $70 per share. DOR Power Drive Corporation has the following beginning balances in its stockholders' equity accounts on January 1, 2021: Common Stock. $100,000: Additional Pold-in Capital, $5,500,000; and Retained Earnings, $3,000,000. Net income for the year ended December 31, 2021, is $700,000 Required: Prepare the statement of stockholders' equity for Power Drive Corporation for the year ended December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) int ces POWER DRIVE CORPORATION Statement of Stockholders' Equity For the Year Ended December 31, 2021 Common Stock Additional Retained Paid in Capital Earnings Treasury Stock Stockholders Equity $ 100,000 $ 5,500,000 $ 3.000.000 $ 0 $ 8,600,000 65.000 Total Balance, January 1 Issue common stock Purchase treasury stock Declare dividends Resell treasury stock Net income Balance, December 31 $ 165,000 5,500,000 3.000,000 0 $ 8,665,000 Check my work 8 1.11 pot Power Drive Corporation designs and produces a line of golf equipment and golf apparel Power Drive has 100,000 shares of common stock outstanding as of the beginning of 2021. Power Drive has the following transactions affecting stockholders' equity in 2021 March 1 Ines 65,000 additional shares of $1 par value common stock for 662 per share. Hay June 1 Declares a cash dividend of $2.00 per share to i stockholders of record on June 15. (Hint Dividends are not paid on treasury stock.) July 1 Pays the cash dividend declared on June 1. October 21 Resells 3,000 shares at treasury stock purchased on May 10 for $90 pur share. och Power Drive Corporation has the following beginning balances in its stockholders'equity accounts on January 1, 2021 Common Stock $100,000, Additional Pald.in Capital, $5.500.000, and Retained Earings $3,000,000. Net income for the year ended December 31 2021, is $700,000 Required: Prepare the stockholders equity section of the balance sheet for Power Drive Corporation as of December 31, 2021 (Amounts to be deducted should be indicated by a minus sign.) POWER DRIVE CORPORATION Balance der Buity lection Detainer 31011 Stockholders' Equity Total Paid in CRM There Exercise 10-15A Calculate and analyze ratios (L010-8) The financial statements of Friendly Fashions include the following selected data (in millions): is in millions except share data) 2021 2020 Sales $9,943 $11,034 Net income $ 808 Stockholders' equity $1,700 $ 2,300 Average shares outstanding (in millions) 670 Dividends per share $ 0.39 Stock price $ 7.10 $ 290 Required: Calculate the following ratios for Friendly Fashions in 2021. (Enter your Dividend yield and Price-earning ratio values to places. Enter your answers in millions (i.e. 5,500,000 should be entered as 5.5).) Choose Numerator FRIENDLY FASHIONS Cho Return on equity ses Retum on equity Dividend yield Dividend yield Earnings por share Earnings per share Price-earnings ratio Proe earnings ratio
