R. Carpio Products, Inc. was formed at the beginning of the year. Ordinary share has a P25 par value. The following entries affected the shareholders' equity during its first Corporations: Share Capital, Retained Earnings and Financial Reporting 587 NAME: SECTION: SCORE: PROFESSOR Problem #14 Shareholders' Equity Transactions year's operations: a Cash 150,000 Ordinary Shares Share Premium-Ordinary 125,000 25,000 b 75,000 62,500 12.500 Organization Expense Ordinary Shares Share Premium-Ordinary Cash Office Equipment Building Accounts Payable Ordinary Shares Share Premium-Ordinary 29,000 10,750 30,000 29.750 25,000 15,000 d. 60,000 Cash Ordinary Shares Share Premium-Ordinary 37,500 22.500 7,500 e 7,500 Cash Dividends Cash Dividends Payable Cash Dividends Payable Cash f 7,500 7,500 30,000 B Income Summary Retained Earnings 30.000 7.500 h Retained Earnings Cash Dividends 7,500 Required: Provide explanations for the journal entries and answer the following questions: 1. What is the profit for the year? 2. How many ordinary shares are outstanding? 3. What is the legal capital? 4. What is the total share capital? 5. What is the retained earnings balance at the end of the year? 6. What is the total shareholders' equity? 7. What is the book value per share of the ordinary shares at the end of the year