Compute the number of shares of stock outstanding

Reference no: EM132848869

Question - At the beginning of the current year, King Cole, Inc. had 300,000 shares of capital stock outstanding and total stockholders' equity of $1,200,000. During the year, the company earned net income of $325,000, declared cash dividends of $150,000, distributed a 5% stock dividend of 15,000 shares when the market price of the stock was $16 per share, and purchased 3,000 shares of treasury stock at a cost of $13 per share. Compute the following at the end of the current year:

(a) Total stockholders' equity:

(b) Number of shares of stock outstanding:

Reference no: EM132848869

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