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The stockholders equity accounts of Riverbed Corp on January 1, 2017, were as follows. Preferred Stock (7%, $100 par noncumuDec. 31 Retained Earnings 165305 Dividends Payable 165305 (To close cash dividends) Dec. 31 Dividends Payable 165305 Cash 165Preferred Stock Common Stock 23350 Paid-in Capital in Excess of Par Value—Preferred StockPaid-in Capital in Excess of Stated Value-Common Stock Retained EarningsCash Dividends Treasury StockRIVERBED CORP Partial Balance Sheet $Calculate the payout ratio, earnings per share, and return on common stockholders equity. (Round earning per share to 2 deci

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Answer #1

SOLUTION:

  1. Feb.          1     Cash ...............................................................................           28,020

                                           Common Stock (4,670 X $5)................................                               23,350

                                           Paid-in Capital in Excess of

                                              Stated Value—Common

                                           Stock..................................................................                               4,670

        

         Mar.       20     Treasury Stock—Common (2,000 X $8)......................           16,000

                                           Cash .....................................................................                               16,000

         Oct.          1     Retained earnings ($100X4350 X .07)..........................           30,450

                                           Dividends Payable................................................                               30,450

         Nov.         1     Dividends Payable..........................................................           30,450

                                           Cash .....................................................................                               30,450

         Dec.         1     Cash Dividends...............................................................        2,06,969

                                    [291000 + 4670] X $.70

                                           Dividends Payable................................................                               2,06,969

         Dec.       31     Income Summary...........................................................         280,400

                                           Retained Earnings................................................                               280,400

                        31     Retained Earnings.........................................................        2,06,969

                                           Dividends payable....................................................                               2,06,969

                        31     Dividends Payable..........................................................        2,06,969

                                           Cash .....................................................................                               2,06,969

        

(b)

Preferred Stock

Paid-in Capital in Excess of

Par Value—Preferred Stock

1/1   Bal.             261,000

1/1   Bal.             13,050

12/31 Bal.             261,000

12/31 Bal.             13,050

                                 

                                        

Common Stock

Paid-in Capital in Excess of

Stated Value—Common Stock

1/1 Bal.               12,12,500

1/1 Bal.               465,600

2/1                           23,350

2/1                           4,670

12/31 Bal.           12,35,850

12/31 Bal.           470,270

Retained Earnings

Treasury Stock—Common

12/31              237,419

1/1 Bal.          710,000

1/1 Bal.          34,800

12/31              280,400

3/20                16,000

12/31 Bal.      752,981

12/31 Bal.      50,800

Cash Dividends

10/1                  30,450

12/1                206,969

12/31              237,419

12/31 Bal.             –0–

(c)                                                         SIGMA CORPORATION

                                                                  Partial Balance Sheet

                                                                    December 31, 2017

                                                                                                                                           

         Stockholders’ equity

                   Paid-in capital

                            Capital stock

                                      7% Preferred stock, $100

                                         par value, noncumulative,

                                         4350 shares authorized,

                                         2610 shares issued and

                                         outstanding....................................................           $   261,000

                                      Common stock, no-par, $5

                                         stated value, 300,000 shares

                                         authorized, 247170 shares

                                         issued and 240500 shares

                                         outstanding....................................................           1,235,850

                                               Total capital stock..................................                                      14,96,850

                            Additional paid-in capital

                                      In excess of par value—

                                         preferred stock.............................................                  13,050

                                      In excess of stated value—

                                         common stock................................................             4,70,270

                                               Total additional paid-in

                                                  capital...................................................                                          483,320

                                               Total paid-in capital................................                                      1,980,170

                   Retained earnings...............................................................                                          752,981

                                               Total paid-in capital and

                                                  retained earnings.................................                                      27,33,151

                   Less: Treasury stock (4350 common

                                  shares)                                                                                  (50,800)

                                               Total stockholders’ equity.....................                                      $2,682,351

Ratios Calculation Final answer
Payout ratio 206960 *100
= 280400 73.81%
Return on common stockholder equity = (280400-30450)
(2353300+2408301)/2
= 249950
3557451
7.03 % 7.03%
Earnings per share = (280400-30450)
(247170+240500)/2
= 249950
243835
1.03 $1.03
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