Shareholders' Equity of National Beverage Corp.

National Beverage Corp. is an American beverage developer, manufacturer, and distributor based inFort Lauderdale,Florida, focused on flavoredsoft drinks such as La Croix. Using the attached excerpts from the company's 2020 Annual Report answer the following questions.Please note:

• All numbers, except share data, are presented in $ thousands.
• Provide calculations when necessary.

Shares Issued and Outstanding

1. How many shares of common stock were authorized at fiscal year-end 2020? How many had been issued as of fiscal year-end 2020?
2. National Beverage has repurchased some of its own common shares that had been previously issued (Treasury Stock).How many common shares did National Beverage hold as treasury stock at the end of 2020?
3. How many total shares were outstandingat fiscal year-end 2020?

Common Stock

1. What is the par value of each share of common stock issued?
2. How much money in excess of the par value of the stock had been contributed by common shareholders by the end of 2020?
3. How much did National Beverage pay for Treasury Stock of all common shares it held at fiscal year-end 2020

Transactions related to Shareholders' Equity

For each activity below, provide the accounting entry made by National Beverage (with amounts):

1. Record the declaration and payment of dividends for the fiscal year ended April 27, 2019.
2. Record the purchase of common shares for the fiscal year ended May 2, 2020

Preferred Stock

1. What is the par value of each share of preferred stock issued?
2. How much did National Beverage pay for Treasury Stock of preferred shares it held at fiscal year-end 2020?

Earnings per Share

1. What is Basic Earnings per Share for 2020?
2. What is Diluted Earnings per Share for 2020?

NATIONAL BEVERAGE CORP. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS May 2, April 27, (In thousands, except share data) 2020 2019 ASSETS Current assets: Cash and equivalents S 304,518 $ 156,200 Trade receivables - net 84,921 84,841 Inventories 63,482 70,702 Prepaid and other assets 7,791 9,714 Total current assets 460,712 321,457 Property, plant and equipment - net 120,627 111,316 Right of use assets - net 47,884 Goodwill 13,145 13,145 Intangible assets 1,615 1,615 Other assets 4,663 4,660 Total assets S 648,646 $ 452,193 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable S 74,369 $ 66,202 Accrued liabilities 42,476 30,433 Operating lease liabilities 16,980 Income taxes payable 7,863 402 Total current liabilities 141,688 97,037 Deferred income taxes - net 14,823 15,987 Operating lease liabilities- non current 32,159 Other liabilities 7,639 7,560 Total liabilities 196,309 120,584 Shareholders' equity: Preferred stock, $1 par value - 1,000,000 shares authorized Series C - 150,000 shares issued 150 150 Common stock, $.01 par value - 200,000,000 shares authorized; 508 507 50,803,184 shares (2020) and 50,678,084 shares (2019) issued Additional paid-in capital 37,930 37,065 Retained earnings 443,402 313,430 Accumulated other comprehensive (loss) (5,420) (1,543) Treasury stock - at cost: Series C preferred stock - 150,000 shares (5,100) (5,100) Common stock - 4,187,056 shares (2020) and 4,032,544 shares (2019) (19,133) (12,900) Total shareholders' equity 452,337 331,609 Total liabilities and shareholders' equity S 648,646 $ 452,193NATIONAL BEVERAGE CORP. CONSOLIDATED STATEMENTS OF INCOME Fiscal Year Ended May 2, April 27, April 28, (In thousands, except per share amounts) 2020 2019 2018 Net sales $ 1,000,394 $ 1,014,105 $ 975,734 Cost of sales 630,254 629,755 584,599 Gross profit 370,140 384,350 391,135 Selling, general and administrative expenses 204,394 204,415 186,947 Operating income 165,746 179,935 204,188 Other income, net (3,709) (3,942) (1,301) Income before income taxes 169,455 183,877 205,489 Provision for income taxes 39,483 43,024 55,715 Net income S 129,972 $ 140,853 $ 149,774 Earnings per common share: Basic 2.79 $ 3.02 $ 3.21 Diluted 2.78 $ 3.00 $ 3.19 Weighted average common shares outstanding: Basic 46,628 46.633 46,598 Diluted 46,828 46,917 46,921