Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

question is placed in the attached picture. The information is placed below. 4. TDF Co. incorporated in 2010. No additional shares of common or preferred

question is placed in the attached picture. The information is placed below.

image text in transcribed
4. TDF Co. incorporated in 2010. No additional shares of common or preferred stock have been issued since incorporation. The following information relates to TDF as of December 31, 2014: W Common Stock, par $1 $ 216,000 Additional Paid-in Capital Common stock 3,024,000 Preferred Stock, noncumulative, par $5, 10% dividend rate 147,000 Additional Paid-in Capital , Preferred stock 58,800 Treasury Stock , 2,180 shares of common stock repurchased during 2013 26,160 Beginning Retained Earnings balance (as of January I, 2014) 180,510 Income Statement Information Net Income $ 1 10,919 During 2014, TDF declared and paid total dividends of $57,464. The only other dividend TDF has ever issued was a $44,100 cash dividend declared and paid during 2012. A. What should be the reported balance in retained earnings as of December 31, 2014? $ (2 points) B. What is the average cost per share of treasury stock on hand as of December 31, 2014? $ per share (2 points) C. How many shares of common stock are outstanding as of December 31, 2014? shares (2 points) D. How much of the cash dividend declared and paid in 2014 was paid to preferred stockholders? $ (2 points) B. What is TDF'S earnings per share for the year ended December 31, 2014? $ per share (2 points)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Hospitality Financial Accounting

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Agnes L.

2nd Edition

9780470598092, 470083603, 978-0470083604

More Books

Students also viewed these Accounting questions