Reporting Stockholders’ Equity
Ruth’s Chris Steakhouse is the largest upscale steakhouse company in the United States, based on total company- and franchisee-owned restaurants. The company’s menu features a broad selection of high quality USDA prime grade steaks and other premium offerings. Currently, there are 100 Ruth’s Chris restaurants, of which 50 are company-owned and 50 are franchisee-owned, including 10 international franchisee-owned restaurants in Mexico, Hong Kong. Taiwan, and Canada, Information from the company’s annual report is shown below (dollar amounts in thousands. except per share data):
a. Common stock. par value $0.01, 100,000,000 shares authorized. 23,215,356 issued and outstanding at December 31, 2007: 23,337,986 issued and outstanding at December 31, 2008.
b. Additional paid-in capital $168,431 in 2007 and $171,389 in 2008.
c. Accumulated deficit $80,597 in 2007.
d.Net loss in 2008 was $53,883. No dividends were paid.
Required:
Prepare the stockholders ‘ equity section of the balance sheet at December 31, 2008.
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