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The following account balances were selected from the records of TAC Corporation at the end of the fiscal year after all adjusting entries were completed:
The following account balances were selected from the records of TAC Corporation at the end of the fiscal year after all adjusting entries were completed: Common stock ($19 par value; 106,000 shares authorized, 42,000 shares issued. 40.000 shares outstanding) Additional paid-in capital Dividends declared and paid during the year Retained earnings at the beginning of the year Treasury stock at cost (2.000 shares) $ 798,000 174.000 13,000 66,000 (43,000) Net Income for the year was $40,000. The stock price is currently $24.29 per share. References Section Break E11-14 Preparing a Statement of Stockholders' Equity and Evaluating Dividend Policy LO11-1, 11-3, 11-4, 11-5 value 4.00 points E11-14 Part 1 Required: 1. Prepare the stockholders' equity section of the balance sheet at the end of the fiscal year. (Amounts to be deducted should be indicated by a minus sign.) TAC Corporation Balance Sheet (Partial) At December 31, This Fiscal Year Stockholders' equity: Contributed capital Common stock S 798,000 Additional paid-in capital 174,000 Total contributed capital Retained earnings 972,000 122,000 Total contributed capital and retained earnings 1,094.000 Treasury stock (43,000) Total stockholders' equity S 1,051,000 2-a. Compute and evaluate the dividend yield ratio. (Enter your answer as a percentage rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34).) Dividend yield ratio 2-b. Determine the number of shares of stock that received dividends. Number of shares
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