Construct a full Statement of Shareholders’ Equity for Nunu Enterprise, as of December 31, 2019, given...
Construct a full Statement of Shareholders’ Equity for Nunu Enterprise, as of December 31, 2019, given the following information.
- As of December 31, 2018, there were 50 million shares of stock outstanding, sold by the company to shareholders for a total of $138 million.
- On March 11, 2019, an additional 2 million shares were sold by the company to shareholders for $7 million. No other shares were sold or bought back in 2019.
- Net Income for the year ending December 31, 2019 was $92 million.
- During 2019, $29 million of cash dividends were declared and paid to shareholders.
- As of December 31, 2019, total Shareholders’ Equity was $1,133 million.
Homework Answers
| Nunu Corporation | |||
| Statement of stock holders equity | |||
| December 31, 2019 (in millions) | |||
| Common Stock | Retained Earnings | Total Stock holders equity | |
| Balance, December 31, 2018 | $ 138 | $1,133-138-7-92+29 = 925 | $ 1,063 |
| Issuance of additional shares | $ 7 | $ 7 | |
| Net income | $ 92 | $ 92 | |
| Cash dividends | $ (29) | $ (29) | |
| Balance, December 31, 2019 | $ 145 | $ 988 | $ 1,133 |
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