Homework Answers
(a) Dividend Paid Out = $ 190000, Retained Earnings 2018 = $ 900000 and Retained Earnings 2019 = $ 1500000
Addition to Retained Earnings 2019 = 1500000 - 900000 = $ 600000
Net Income 2019 = Dividends Paid + Addition to Retained Earnings = 190000 + 600000 = $ 790000
(b) Outstanding Shares 2018 = 430000 and
Outstanding Shares = 1400000
New Shares Issued = 1400000 - 430000 = 970000
(c) Par Value of Common Stock = $ 1 = p
Paid In Capital In Excess of Par 2018 = $ 410000 and Paid In Capital In Excess of Par 2019 = $ 4800000
Increase in Excess Paid in Capital = 4800000 - 410000 = $ 4390000
Increase in Excess Paid in Capital per Share = 4390000 / 970000 = $ 4.52577
Average price per share = 4.52577 + 1 = $ 5.52577 ~ $ 5.52
(d) Excess Paid In Capital = $ 410000 and Number of shares = 430000
Excess Paid In Capital per Share = 410000 / 430000 = $ 0.95349
Average price per Share = 0.95349 + p = 0.95349 + 1 = $ 1.95349 ~ $ 1.95
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