radelegak ORION Downloadable eTextbook assignment > Open Assignment CALCULATOR PRINTER VERSION STA Problem 3-4 The stockholders' equity accounts of Swifty Corporation on January 1, 2017, were as follows. Preferred Stock (8%, $100 par no cumulative, 5,000 shares authorized) $300,000 Common Stock (54 stated value, 300,000 shares authorized) 1,000,000 Paid-in Capital in Excess of Par Value-Preferred Stock 15,000 Paid in Capital in Excess of stated Value--Common Stock 480,000 Retained Earnings 689,000 Treasury Stock (5,000 common shares) 40.000 During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 5,000 shares of common stock for $35,000 Mar. 20 Purchased 1,000 additional shares of common treasury stock at $7 per share Oct. Declared a 8% cash dividend on preferred stock, payable November 1 Nov. 1 Paid the dividend declared on October 1. Dec. Declared a $0,85 per share cash dividend to common stockholders of record on December 15, payable December 31, 2017 Dec. 31 Paid the dividend declared on December 1 1 (a) Prepare a tabular summary that includes the January 1, 2017, balances. Do not include the beginning balance in Retained Earnings in the tabular summary (b) Record the 2017 transactions in the tabular summary (Round answers to o decimal places. e.g. 5,275. If a transaction causes a decrease in Assets, Liabilities or Stockholders'Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) CE Sand Allghts Reserved. A Divon Weins Par UVOD CALCULATOR NE a) Prepare a tabular summary that includes the Januvy 1, 2017, balances. Do not include the beginning balance in Retained Earnings in the tabular summary b) Record the 2017 transactions in the tabular summary Round answers o decimal places, e.g. 5,275. If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sig for parentheses) de front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Liabilities Stockholders' Equity Pald-in-Capital Retained Earnings Common PIC in Excess of PIC in Excess of Treasury Div. Pay Stock + Stated Value Com. + Prel. Stock + Par Value Prel. Stock + Revenue Dividend ka) Bal. $ $ $ $ s (b) Feb. 1 Mar. 20 Oct. 1 Nov. 1 Dec. 1 Dec. 31 SHOW LIST OF ACCOUNTS Prepare the stockholders' equity section of the balance sheet at December 31, 2017. Include 2017 net income of $364,100 as an increase to the January 1, 2017, Retained Earnings. SWIFTY CORPORATION Partial Balance Sheet Lensatement Pracy Polse i 2000-2020 Son All Rights Reserved. A Div. ofan Wiring CALCULATOR PRINTER VERSION SHOW LIST OF ACCOUNTS Calculate the payout ratio, earnings per share, and return on common stockholders' equity. (Note: Use the common shares outstanding on January 1 and December 31 to determine the average shares outstanding.) (Round earning per share to decimal places, . $2.66 and all other answers to I decimal place 17.5.) Payout ratio Earnings per share Return on common stockholders' equity Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS
