Account balances appear on the balance sheet

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Healthy Living Co. is an HMO for businesses in the Seattle area. The following account balances appear on the balance sheet of Healthy Living Co.: Common stock (400,000 shares authorized; 300,000 shares issued), $18 par, $5,400,000; Paid-in capital in excess of par—common stock, $1,500,000; and Retained earnings, $78,000,000. The board of directors declared a 5% stockdividend when the market price of the stock was $40 a share. Healthy Living Co. reported no income or loss for the current year.

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Reference no: EM13747744

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