Riverside Company reported the following items on its statement of shareholders’ equity for the year ended December 31, 2018 (amounts in thousands of dollars):

Requirements

1. Determine the December 31, 2018, balances in Riverside’s shareholders’ equity accounts and total shareholders’ equity.

2. Riverside’s total liabilities on December 31, 2018, are $7,000. What is the company’s debt ratio on this date?

3. Was there a profit or a loss for the year ended December 31, 2018? How can you tell?

4. At what price per share did Riverside issue common stock during 2018?

Transcribed Image Text:

Accumulated Other $3.50 Par Common Stock Total Shareholders' Retained Comprehensive Income Additional Paid-in Capital Earnings $2,200 Equity $8,608 Balance, December 31, 2017.. Net earnings.. Other comprehensive income. Issuance of stock . Cash dividends. . Balance, December 31, 2018 . $400 $6,000 $8 1,370 140 160 (65)