Homework Answers
| 1) | Par Value = 40000 shares *$2 each | ||||||
| =$80000 | |||||||
| 2) | Additional paid in capital = 40000 shares * ( $15-2) | ||||||
| =$520000 | |||||||
| 3) | Book value of net equity = common stock + additional paid in capital + retained earning | ||||||
| $320000 =$80000+520000+ retained earning | |||||||
| Retained earning =320000-600000 | |||||||
| Retined earning = - $280000 | |||||||
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