The following information comes from the 2021 Annual Report to stockholders of Composition Inc. (in thousands):...
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The following information comes from the 2021 Annual Report to stockholders of Composition Inc. (in thousands): From the Statement of Changes in Shareholders' Equity: BALANCES AT December 31, 2019 Net earnings Sales of common stock under option plans. Cash dividends declared on common stock: $0.5375 per share Compensation under employee incentive plans Treasury shares exchanged for Acquisitions Purchase of shares for treasury BALANCES AT December 31, 2020 Net earnings Sales of common stock under option plans Cash dividends declared on common stock: $0.5475 per share Compensation under employee incentive plans Purchase of shares for treasury BALANCES AT December 31, 2021 From the Statement of Cash Flows: Cash flows from financing activities: 2021 Dividends paid $72,244 2020 $66,932 Paid-in capital- excess of par $ 0 Fair value of the treasury stock for 2020 (5,181) (1,802) 139,209 - 132,226 (3,538) (196) Required: What was the fair value of the treasury stock exchanged for asset acquisitions for 2020? $128,492 Number of Treasury shares. (30,561) 377 395 20,449 (6,668) (16,008) 279 366 (2,933) (18,296) Treasury stock. amount $(524,321) 10,738 9,408 318,293 (122,906) (308,788) 7,095 8,271 (48,678) $(342,100) Retained earnings $1,673,382 242,941 (68,952) - 1,847,371 81,965 (72,903) $1,856,433 The following information comes from the 2021 Annual Report to stockholders of Composition Inc. (in thousands): From the Statement of Changes in Shareholders' Equity: BALANCES AT December 31, 2019 Net earnings Sales of common stock under option plans. Cash dividends declared on common stock: $0.5375 per share Compensation under employee incentive plans Treasury shares exchanged for Acquisitions Purchase of shares for treasury BALANCES AT December 31, 2020 Net earnings Sales of common stock under option plans Cash dividends declared on common stock: $0.5475 per share Compensation under employee incentive plans Purchase of shares for treasury BALANCES AT December 31, 2021 From the Statement of Cash Flows: Cash flows from financing activities: 2021 Dividends paid $72,244 2020 $66,932 Paid-in capital- excess of par $ 0 Fair value of the treasury stock for 2020 (5,181) (1,802) 139,209 - 132,226 (3,538) (196) Required: What was the fair value of the treasury stock exchanged for asset acquisitions for 2020? $128,492 Number of Treasury shares. (30,561) 377 395 20,449 (6,668) (16,008) 279 366 (2,933) (18,296) Treasury stock. amount $(524,321) 10,738 9,408 318,293 (122,906) (308,788) 7,095 8,271 (48,678) $(342,100) Retained earnings $1,673,382 242,941 (68,952) - 1,847,371 81,965 (72,903) $1,856,433
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Related Book For
Intermediate Accounting
ISBN: 978-0324312140
16th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
Posted Date:
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