Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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 high-quality USDA prime steaks and other premium offerings. Select information from the company's annual report is shown below: Common stock, $0.01 par value, 100,000,000 shares authorized, 34,333,858 issued and outstanding at December 31, 2014; 34,990,170 issued and outstanding at December 31, 2013. Additional paid-in capital: $155,455,000 at the end of 2014 and $169,107,000 at the end of 2013. Accumulated deficit: $68,804,000 at the end of 2013. In 2014, net income was $16,455,000 and a cash dividend of $7,138,000 was paid.

Required: Prepare the stockholders' equity section of the balance sheet at December 31, 2014, using this select information. (Amounts to be deducted should be indicated with a minus sign.)

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

Accounting Understanding And Practice

Authors: Robert Perks

3rd Edition

0077124782, 9780077124786

More Books

Students also viewed these Accounting questions