Reference no: EM132471891
Problem - Dally Cleaners reported the following information at December 31, 2020:
Common stock, $1 par, 100,000 shares authorized 60,000
Additional paid-in capital 95,000
Retained earnings 70,000
Total $225,000
Less: Treasury stock (3,000 common shares at cost) 61,500
Total Stockholders' Equity $163,500
Net Income $84,360
Required - Answer the following questions for Dally Cleaners in the space provided:
1. How many shares of common stock are authorized?
2. How many shares of common stock are issued?
3. How many shares of common stock are outstanding?
4. How many of the common shares will receive dividends when they are paid?
5. How much did Dally Cleaners pay for each share of Treasury stock?
6. If a total of $24,700 dividends are paid, how much will shareholders receive per share?
7. What is the total amount of contributed capital at December 31?
8. Calculate the EPS (Earnings per share).
9. Calculate the Price/Earning ratio if each share was selling for $47.36/share.
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