The financial statements for Highland Publications Corporation included the following selected information Common stock $1,600,000 Retained earnings $900,000 Net income $1,000,000 Shares issued 90,000 Shares outstanding 80,000 Dividends declared and paid $800,000 The common stock was sold at a pric...

Req 1 20 x 90000 shares 1600000 ...

The financial statements for Highland Publications Corporation included the following selected information: Common stock $1,600,000 Retained earnings

Question:

The for Highland Publications included the following selected information:
$1,600,000
Retained earnings $900,000
Net income $1,000,000
Shares issued 90,000
Shares outstanding 80,000
Dividends declared and paid $800,000
The common stock was sold at a price of $20 per share.
Required:
1. What is the amount of capital in excess of par?
2. What was the amount of retained earnings at the beginning of the year?
3. How many shares are in treasury stock?
4. Compute earnings per share.

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...