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L01 LO3 L04 LO5 L02 Comprehensive Stockholders Equity Transactions and Financial Ratios P 8. Stavski Plastics Corporation was chartered in the Commonwealth of Massa chusetts. The company was authorized to issue 10,000 shares of $100 par value, 6 percent preferred stock and 50,000 shares of no-par common stock. The com mon stock has a S2 stated value. The stock-related transactions for the quarter ended October 31, 2011, were as follows: Aug. 3 Issued 10,000 shares of common stock at $22 per share 15 Issued 8,000 shares of common stock for land. Asking price for the land was S100,000. Common stocks market value was $12 per share. Management wishes to record the land at the market value of the stock 22 Issued 5,000 shares of preferred stock for $500,000 4 10 Purchased 2,500 shares of common stock for the treasury for Oct. Issued 5,000 shares of common stock for $60,000 $6,500 Declared a quarterly cash dividend on the outstanding preferred stock and S0.10 per share on common stock outstanding, pay able on October 31 to stockholders of record on October 25 15 25 Date of record for cash dividends 31 Paid the cash dividends declared on October 15
558 CHAPTER 12 Contributed Capital Required 1. Record transactions for the quarter ended October 31, 201, i Taccounts. 2. Prepare the stockholders equity section of the balance sheet as of October 31 2011. Net income for the quarter was $23,000. User insight3. Calculate dividends yield, price/earnings ratio, and return on equity. Assume earnings per common share are S1.97 and market price per common share is S25. For beginning stockholders equity, use the balance after the August transactions Discuss the results in requirement 3, including the effect on investors returns and the firms profitability as it relates to stockholders equity. User insight4. LO1 LO2 Comprehensive Stockholders Equity Transactions
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