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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: Check my
The following account balances were selected from the records of beverage maker Blake Corporation at December 31 after all adjusting entries were completed:
Check my work 23 Common stock (par $15; authorized 100,000 shares, issued 27,000 shares, of which 1,000 shares are held as treasury stock) Additional paid-in capital-common stock Dividends Retained earnings, beginning of year Treasury stock at cost (1,000 shares) 5 points $405,000 172,000 20,000 68,000 20,000 Skipped Net income for the year was $36,000. eBook 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. 3. Compute the ROE ratio for the current year, assuming total stockholders' equity was $621,000 on December 31 of the previous year. 23 3. Compute the ROE ratio for the current year, assuming total stockholders' equity was $621,000 on December 31 of the previous year. 5 points Complete this question by entering your answers in the tabs below. Skipped Reg 1A Req 1B Reg 2 Reg 3 eBook 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 Reg 1B Req 2 Req3 Prepare the stockholders' equity section of the balance sheet at December 31. (Amounts to be deducted should be indicated by a minus sign.) BLAKE CORPORATION Balance Sheet (Excerpt) At December 31 Stockholders' Equity Contributed Capital: Total Contributed Capital Total 0 Total Stockholders' Equity $ 0 Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Reg 2 Req3 Determine the number of shares of stock that received dividends. Number of SharesStep by Step Solution
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