Question
Statement of Shareholders' Equity On January 1, 2019, Osgood Film Studios reported the following alphabetical list of shareholders' equity items: Additional paid-in capital on common
Statement of Shareholders' Equity
On January 1, 2019, Osgood Film Studios reported the following alphabetical list of shareholders' equity items:
Additional paid-in capital on common stock | $127,500 |
Additional paid-in capital on preferred stock | 14,200 |
Common stock, $2 par | 60,000 |
Preferred stock, $100 par | 71,000 |
Retained earnings | 215,000 |
During 2019, the company sold 4,200 shares of common stock for $10 per share and 330 shares of preferred stock for $140 per share. It also earned income of $90,000 and paid dividends of $6 per share on the preferred stock and $2.80 per share on the common stock outstanding at the end of 2019.
This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below.
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