ABC Toy Company earned $357 million of net income in 2019 and paid $45 million in dividends.
Question:
ABC Toy Company earned $357 million of net income in 2019 and paid $45 million in dividends. It issued no new stock. Complete the stockholders' equity section for ABC Toy Company:
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December 31 (in millions) 2019 2018 Common Stock, Par Value Addit onal Pad in Cap tal in Excess of Par – Common Retained Earnings Acumu ated other comprehens ve income (lossl Tota Stockholders' Equity $ 100 1,245 1,104 53 $1,717
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A We use the relationship Beginning Retained Earnings plus Net Income minus Dividends Dec...View the full answer
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Related Book For
Intermediate Accounting
ISBN: 978-0134730370
2nd edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
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