8.28 - Net Income Revenue Expenses Retained Earnings...

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8.28 A $6 200000 $1,200,000 8.28 B Paid In capital: $220,000 (increases in common stock and paid in capital {6000 # shares in May: 10000 Per share price: $22 8.28 C $14,000 500 $28 8.28 D Retained earnings April 30: $6,812,000 Pref stock dividend: $(192,000) 40000 120 8% Net income: $330,000 Retained earnings May 31: $6,950,000 8.28 E 1) Shares: 191000 200000 9000 Div: $0.21 Ttl Div: $40,110.00 2) Decrease in retained earning and increase in dividends payable. 8.28 F Shares: 12000 200000 6% Balance Sheet Income Statement Assets Liabilitis OE
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Unformatted text preview: Net Income Revenue Expenses Retained Earnings $(432,000) Common Stock $72,000 Add. Paid in Cap. $360,000 Dr. Retained earnings (12000 * $36) $432,000 Cr. Common stock (12000 * $6) $72,000 Cr. Add paid in capital (12000 * $30) $36,000 8.28 G 1) Par: $3 $6 2 Auth Shares: 600000 300000 2 2) Price: $18 $36 2 3) Treasury: 18000 9000 2 8.28 H 1 & 2) Equity will be unchanged but they would have shown a profit or had a change in 00 + 180000}) 2 the number of shares owned....
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8.28 - Net Income Revenue Expenses Retained Earnings...

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