# A company has 5-000 shares of \$2 par value common stock and 2-500 shar.docx

A company has 5,000 shares of \$2 par value common stock and 2,500 shares of 7%, \$120 par, noncumulative preferred stock outstanding. The balance in Retained Earnings at the beginning of the year was \$550,000. The net loss for the current year was \$41,250. If the company paid a dividend of \$1.50 per share on its common stock, what is the balance in Retained Earnings at the end of the year? \$562,750 Please show how you got the answer. Solution 550,000- 41.250- (5000)* 1.50 - (2500*120*.07)= 480,250 A) .

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### A company has 5-000 shares of \$2 par value common stock and 2-500 shar.docx

• 1. A company has 5,000 shares of \$2 par value common stock and 2,500 shares of 7%, \$120 par, noncumulative preferred stock outstanding. The balance in Retained Earnings at the beginning of the year was \$550,000. The net loss for the current year was \$41,250. If the company paid a dividend of \$1.50 per share on its common stock, what is the balance in Retained Earnings at the end of the year? \$562,750 Please show how you got the answer. A company has 5,000 shares of \$2 par value common stock and 2,500 shares of 7%, \$120 par, noncumulative preferred stock outstanding. The balance in Retained Earnings at the beginning of the year was \$550,000. The net loss for the current year was \$41,250. If the company paid a dividend of \$1.50 per share on its common stock, what is the balance in Retained Earnings at the end of the year? \$480,25 0 \$550,000 \$501,250 \$619,750 \$562,750 Please show how you got the answer. Solution 550,000- 41.250- (5000)* 1.50 - (2500*120*.07)= 480,250 A)
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