Question
The financial statements for Highland Publications Corporation included the following selected information: Common stock $ 1,515,000 Retained earnings $ 880,000 Net income $ 1,130,000 Shares
The financial statements for Highland Publications Corporation included the following selected information: |
| Common stock | $ | 1,515,000 |
| Retained earnings | $ | 880,000 |
| Net income | $ | 1,130,000 |
| Shares issued | 101,000 | |
| Shares outstanding | 73,000 | |
| Dividends declared and paid | $ | 710,000 |
The common stock was sold at a price of $27 per share. |
What is the amount of capital in excess of par?
What was the amount of retained earnings at the beginning of the year?
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Financial Accounting
Authors: Jan Williams, Susan Haka, Mark S Bettner, Joseph V Carcello
16th edition
1259692396, 77862384, 978-0077862381
