Reference no: EM132740975

Problem - The following information was extracted from the records of Cascade Company at the end of the ?scal year after all adjusting entries were completed:

Common stock ($0.01 par value; 250,000 shares authorized, 56,500 shares issued, 54,500 shares outstanding) $565

Additional paid-in capital 461,000

Dividends declared and paid during the year 24,500

Retained earnings at the end of the year 317,000

Treasury stock at cost (2,000 shares) (17,500)

Net income for the year was $97,500. The stock price is currently $20 per share.

Required -

1. Prepare the stockholders' equity section of the balance sheet at the end of the fiscal year.

2. Compute the dividend yield ratio. Determine the number of shares of stock that received dividends.