Revere Water Company reported the following items on its statement of shareholders equity for the year ended December 31, 2012: 1. Determine the December 31, 2012, balances in Revere Waters shareholders equity accounts and total shareholders equity on this date.2. Revere Waters total liabilities on December 31, 2012, are $7,400. What is Revere Waters debt ratio on this date?3. Was

Revere Water Company reported the following items on its statement of shareholders€™ equity for the year ended December 31, 2012:

1. Determine the December 31, 2012, balances in Revere Water€™s shareholders€™ equity accounts and total shareholders€™ equity on this date.
2. Revere Water€™s total liabilities on December 31, 2012, are $7,400. What is Revere Water€™s debt ratio on this date?
3. Was there a profit or a loss for the year ended December 31, 2012? How can you tell?
4. At what price per share did Revere Water issue common stock during2012?

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...