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Ruth's Chris Steakhouse is the largest upscale steakhouse company in the United States, based on total company- and franchisee-owned restaurants. The company's menu features a
Ruth's Chris Steakhouse is the largest upscale steakhouse company in the United States, based on total company- and franchisee-owned restaurants. The company's menu features a broad selection of highquality USDA prime grade steaks and other premium offerings. Currently, there are 100 Ruth's Chris restaurants, of which 50 are company-owned and 50 are franchisee-owned, including 10 international franchisee-owned restaurants in Mexico, Hong Kong, Taiwan, and Canada. Information from the company's annual report is shown below (dollar amounts in thousands, except share data): a. Common stock, par value S0.01, 100,110,000 shares authorized, 23,335,356 issued and outstanding at December 31, 2010, 23,493,356 issued and outstanding at December 31, 2011 b. Additional paid-in capital $188,431 in 2010 and $182,389 in 2011 c. Accumulated deficit S81,897 in 2010. d. Net income in 2011 was $55,383. No dividends were paid. Required Prepare the stockholders' equity section of the balance sheet at December 31 for 2010 and 2011. (Enter your answers in thousands. Amounts to be deducted should be indicated with a minus sign.) RUTH'S CHRIS STEAKHOUSE Balance Sheet (Partial) At December 31 2010 2011 Shareholders' equity(deficit): stock Additional paid-in capital Total shareholders' equity
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