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The equity sections from Salazar Groups 2011 and 2012 year-end balance sheets follow. Stockholders Equity (December 31, 2011) Common stock$4 par value, 50,000 shares authorized,
The equity sections from Salazar Groups 2011 and 2012 year-end balance sheets follow. |
Stockholders Equity (December 31, 2011) | ||
Common stock$4 par value, 50,000 shares authorized, 20,000 shares issued and outstanding | $ | 80,000 |
Paid-in capital in excess of par value, common stock | 60,000 | |
Retained earnings | 160,000 | |
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Total stockholders equity | $ | 300,000 |
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Stockholders Equity (December 31, 2012) | |||
Common stock$4 par value, 50,000 shares authorized, 23,700 shares issued, 1,500 shares in treasury | $ | 94,800 | |
Paid-in capital in excess of par value, common stock | 89,600 | ||
Retained earnings ($15,000 restricted by treasury stock) | 200,000 | ||
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384,400 | |||
Less cost of treasury stock | (15,000 | ) | |
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Total stockholders equity | $ | 369,400 | |
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The following transactions and events affected its equity during year 2012. |
Jan. | 5 | Declared a $0.50 per share cash dividend, date of record January 10. | |
Mar. | 20 | Purchased treasury stock for cash. | |
Apr. | 5 | Declared a $0.50 per share cash dividend, date of record April 10. | |
July | 5 | Declared a $0.50 per share cash dividend, date of record July 10. | |
July | 31 | Declared a 20% stock dividend when the stocks market value is $12 per share. | |
Aug. | 14 | Issued the stock dividend that was declared on July 31. | |
Oct. | 5 | Declared a $0.50 per share cash dividend, date of record October 10. |
1. | How many common shares are outstanding on each cash dividend date? |
Jan. 5 | Apr. 5 | July 5 | Oct. 5 | |
Outstanding common shares | ||||
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2. | What is the total dollar amount for each of the four cash dividends?(Omit the "$" sign in your response.) |
Jan. 5 | Apr. 5 | July 5 | Oct. 5 | |
Cash dividend amounts | $ | $ | $ | $ |
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3. | What is the amount of the capitalization of retained earnings for the stock dividend?(Omit the "$" sign in your response.) |
Capitalization amount | $ |
4. | What is the per share cost of the treasury stock purchased?(Omit the "$" sign in your response.) |
Cost per share | $ |
5. | How much net income did the company earn during year 2012?(Omit the "$" sign in your response.) |
Net income | $ |
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