What amount was reported in the retained earnings account

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Accounting Assignment

The stockholders' equity section on the balance sheet of Mangum's, a popular department store, is shown below. During the year, the company reported net income of $241,125,000 and declared and paid dividends of $11,917,000.

Stockholders' Equity :

Current Year

Last Year

Common stock, Class A-116,720,308 and 116,645,495 shares issued; ? and ? shares outstanding

1,167,000

1,166,000

Common stock, Class B (convertible)-4,100,929 shares issued and outstanding

41,000

41,000

Additional paid-in capital

773,055,000

781,987,000

Retained earnings

2,587,727,000

?

Less treasury stock, at cost, Class A-47,156,748 and 45,450,148 shares

(1,885,581,000

(936,560,000

1. What amount was reported in the Common Stock (Class A) account at the end of the current year?

3. What amount was reported in the Retained Earnings account at the end of last year?

4. At the end of the current year, have the treasury stock transactions increased assets or decreased assets? By how much?

5. During the current year, by what amount did treasury stock transactions increase or decrease stockholders' equity?

Reference no: EM131478160

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