Homework Answers
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WILDHORSE COMPANY Partial Balance Sheet December 31, 2017 |
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Stockholders’ equity |
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Paid-in capital |
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Capital stock |
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Preferred stock |
12168000 |
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Common stock |
9625000 |
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Total capital stock |
21793000 |
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Additional paid-in capital |
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Paid in capital in excess of par value -preferred stock |
585000 |
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Paid in capital in excess of par value -common stock |
1910000 |
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Total additional paid-in capital |
2495000 |
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Total paid-in capital |
24288000 |
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Retained earnings |
2573570 |
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Total paid-in capital and retained earnings |
26861570 |
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Less: Treasury stock |
(205200) |
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Total stockholders’ equity |
$26656370 |
Preferred stock = 117000*104 = 12168000
In excess of par value -preferred stock = 117000*(109-104) = 585000
Retained earnings = 1295000+3587000-((1375000-17100)*1.70) = 2573570
Treasury stock = 17100*12 = 205200
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