The financial statements for Wesley Corp. included the following selected financial information from the stockholders' equity section of the balance sheet at the end of YEAR 1:
Common Stock, $.05 par value: $400,000
Additional Paid-in-Capital in excess of par: $71,600,000
Retained Earnings: $4,800,000
1.Assume the company declared and paid dividends of $500,000 during year 2. What was the amount of net income earned in year 2?
2.What is the amount of earnings per share in year 2?
3. Answer A-E below for the stockholders' equity section of the balance sheet at the end of YEAR 2.
What is-
A) Common Stock, $.05?
B) Number of shares?
C) Number of of shares outstanding?
D) Additional Paid-in-capital in excess of par?
E) Treasury Stock?
Retained Earnings = $9,400,000 (Yr. 2)