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The following account balances were selected from the records of beverage maker Blake Corporation at December 31 after all adjusting entries were completed: Common
The following account balances were selected from the records of beverage maker Blake Corporation at December 31 after all adjusting entries were completed: Common stock (par $15; authorized 100,000 shares, issued 31,000 shares, of which 1,200 shares are held as treasury stock) Additional paid-in capital-common stock Dividends Retained earnings, beginning of year Treasury stock at cost (1,200 shares) Net income for the year was $42.000. Required: 1-a. Prepare the statement of retained earnings for the year ended December 31 1-b. Prepare the stockholders' equity section of the balance sheet at December 31 2. Determine the number of shares of stock that received dividends $465,000 176,000 24,000 72,000 24,000 3. Compute the ROE ratio for the current year assuming total stockholders' equity was $625,000 on December 31 of the previous year Complete this question by entering your answers in the tabs below. Rea 1A Red 18 Reg 2 Reg 3 Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2 Req 3 Prepare the statement of retained earnings for the year ended December 31. BLAKE CORPORATION Statement of Retained Earnings For the Year Ended December 31 Retained Earnings, January 1 Retained Earnings, December 31 $ 0 Req 1A Req 1B Req 2 Req 3 Prepare the stockholders' equity section of the balance sheet at December 31. ( by a minus sign.) BLAKE CORPORATION Balance Sheet (Excerpt) At December 31 Stockholders' Equity Contributed Capital: Total Contributed Capital Total 0 0 Total Stockholders' Equity $ 0 Req 1A Req 1B Req 2 Req 3 Determine the number of shares of stock that received dividends. Number of Shares < Req 1B Req 3 Complete this question by entering your answers in the tabs below. Req 1A. Req 1B Req 2 Req 3 Compute the ROE ratio for the current year, assuming total stockholders' equity was $625,000 on December 31 of the previous year. (Round your answer to 1 decimal place.) ROE Ratio % < Req 2 Rega
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