Use the following statement of stockholders€™ equity to answer the following questions about Osborn Electronics Corporation:

1. How much cash did the issuance of common stock bring in during 2014?
2. What was the effect of the stock dividends on Osborn€™s retained earnings? On total paid-in capital? On total stockholders€™ equity? On total assets?
3. What was the cost of the treasury stock that Osborn purchased during 2014? What was the cost of the treasury stock that Osborn sold during the year? For how much did Osborn sell the treasury stock during 2014?
4. How much was Osborn€™s net income?
5. Osborn revalued available-for-sale investments during the year, resulting in an unrealized gain of $9,000. It also consolidated a foreign subsidiary, resulting in a currency translation gain of $10,000. How much was comprehensive income? How much should be added to Osborn€™s Accumulated Other ComprehensiveIncome?

Transcribed Image Text:

Osborn Electronics Corporation Statement of Stockholders' Equity For the Year Ended December 31, 2014 Accumulated Other Common Additional Total Equity 354,000 Stock Paid-in Retained Treasury Comprehensive Stockholders' $10 Par Capital Earnings StockIncome 185,000 Balance, December 31,2013 Issuance of stock Net income Cash dividends Stock dividends-10% Purchase of treasury stock Sale of treasury stock Other comprehensive income Balance, December 31, 2014 100,000 320,000 1,190,000 83,000 (18,000) 4,000 1,510,000 76,000 (20,000) 62,000! (104,000) 76,000 (20,000) 42,000, 0 (13,000) 12,000 19,000 1,938,000 (13,000) 2,000 10,000 $462,000 S 1,345,000 S 137,000 $ (29,000)23,000