Introduction to Financial Accounting: Exercise 8issued 455 million common shares. There had been no further share transactions until 2016. 1.The income tax rate is 33%. How much income before income tax did Delicious Desserts report on the income statement?
2.What is the stated value of a common share at June 30, 2015?
3.At what price per share did Delicious Desserts issue its common shares during the year?
4.Delicious Desserts statement of changes in shareholders’ equity lists the share transactions in the order in which they occurred. What was the percentage of the stockdividend? Round to the nearest percentage.