Q1

Reporting Stockholders' Equity Using the following accounts and balances, prepare the "Stockholders' Equity" section of the balance sheet. 20,000 shares of common stock authorized, and 10,000 shares have been reacquired. Common Stock, $50 par $600,000 Paid-In Capital from Sale of Treasury Stock 18,000 Paid-In Capital in Excess of Par-Common Stock 216,000 Retained Earnings 282,000 Treasury Stock 12,000 Balance Sheet Stockholders' Equity Paid-in capital: Paid-in capital, common stock Total paid-in capital Total Total stockholders equityEarnings per share Financial statement data for the years 2015 and 2016 for Black Bull Inc. follow: 20Y5 20Y6 Net income $1,488,000 $2,644,000 Preferred dividends $40,000 $40,000 Average number of common shares outstanding 80,000 shares 120,000 shares a. Determine the earnings per share for 20Y5 and 2016. Round to two decimal places. 20Y5 20Y6 Earnings per Share b. Is the change in the earnings per share from 20V5 to 20V6 favorable or unfavorable?Dividends Per Share Sandpiper Company has 25,000 shares of cumulative preferred 2% stock, $50 par and 50,000 shares of $30 par common stock. The following amounts were distributed as dividends: 20V1 $62,500 20Y2 12,500 20Y3 75,000 Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, enter '0'. Preferred Stock Common Stock (dividends per share) (dividends per share) 20V1 20V2 20V3