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Sheridan Company provides you with the following condensed balance sheet information: Assets Current assets $ 43,900 Equity investments Equipment (net) Intangibles 49,500 232,200 64,100
Sheridan Company provides you with the following condensed balance sheet information: Assets Current assets $ 43,900 Equity investments Equipment (net) Intangibles 49,500 232,200 64,100 Total assets $389,700 Liabilities and Stockholders' Equity Current and long-term liabilities $93,200 Stockholders' equity Common stock ($5 par) $ 21,800 Paid-in capital in excess of par 103,400 Retained earnings 171,300 296,500 Total liabilities and stockholders' equity $389,700 For each of the following transactions, indicate the dollar impact (if any) on the following five items: (1) total assets, (2) common stock, (3) paid-in capital in excess of par, (4) retained earnings, and (5) stockholders' equity. (Each situation is independent.) (a) Sheridan declares and pays a $0.50 per share cash dividend.
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