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The market price of a share of common stock at the time of issuance was $14.50, while the market price of a preferred share of
The market price of a share of common stock at the time of issuance was $14.50, while the market price of a preferred share of stock at the time of issuance was $24.00. The company paid $9.00 per share for its treasury stock. Required: Determine the missing amount in the stockholders' equity section of the balance sheet set forth below. (Input all amounts as positive values.) Stockholders' Equity Preferred Stock, $2 par value, authorized 1,000,000 shares, issued 425,000 shares Additional Paid-In Capital Common Stock, $3 par value, authorized 40,000,000 shares; issued 14,000,000 shares Additional Paid-In Capital Total Contributed Capital Retained Earnings Treasury Stock, at Cost (10,000 shares) Total Stockholders' Equity 206,483,000 $ 206,483,000 Selected balance sheet information and the income statement for Pioneer Industries for the current year are presented below. Selected Balance Sheet Accounts Prior Year Accounts Receivable $24, 100 Inventories 33,000 Prepaid Rent 2,300 Accounts Payable 18,800 Salaries and Wages Payable 4,600 Current Year $16,500 36,300 24,400 6,900 $495,000 Income Statement Sales Revenue Expenses: Cost of Goods Sold Depreciation Expense Salaries Expense Rent Expense Insurance Expense Interest Expense Utilities Expense Net Income 284,000 33,000 49,500 19,800 19,800 18,150 16,500 $ 54, 250 Required: Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method. (Enter any deductions and cash outflows as a negative value.) Pioneer Industries Cash Flows from Operating Activities Adjustments to reconcile net income to net cash provided by operating activities: Changes in current assets and current liabilities
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