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Stockholders’ Equity Section of Balance Sheet) The following is a summary of all relevant trans- actions of Vicario Corporation since it was organized in 2014. In 2014, 15,000 shares were authorized and 7,000 shares of common stock ($50 par value) were issued at a price of $57. In 2015, 1,000 shares were issued as a stock dividend when the stock was selling for $60. Three hundred shares of common stock were bought in 2016 at a cost of $64 per share. These 300 shares are still in the company treasury. In 2015, 10,000 preferred shares were authorized and the company issued 5,000 of them ($100 par value) at $113. Some of the preferred stock was reacquired by the company and later reissued for $4,700 more than it cost the company. The corporation has earned a total of $610,000 in net income after income taxes and paid out a total of $312,600 in cash dividends since incorporation.
Instructions prepare the stockholders’ equity section of the balance sheet in proper form for Vicario Corporation as of December 31, 2016. Account for treasury stock using the cost method.
Nathan Cohen, age 45, is a single taxpayer who lives at 2245 Mardel St., San Jose, CA 95130. His social security number is 351-42-1961. Nathan’s earnings and withholdings as a marketing director at a high-tech company for 2014 are: Nathan received a ..
Otis Thorpe Corporation has 12,020 shares of $100 par value, 5% preferred stock and 51,300 shares of $9 par value common stock outstanding at December 31, 2014. If the preferred stock is cumulative and dividends were last paid on the preferred stock ..
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The after-tax profit margin is forecasted to be 5%, and the forecasted payout ratio is 70%. Use the AFN equation to forecast Broussard's additional funds needed for the coming year. Round your answer to the nearest dollar. Do not round intermediate c..
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