Retained earnings, December 31, 2010 =$490,400
Net decrease in total assets during 2011 =$74,800
Net increase in accounts receivable in 2011 =$17,200
Dividends declared and paid in 2011 =$67,200
Proceeds from issuance of bonds during 2011 =$176,800
Net loss for the year ended December 31, 2011 =$46,000
Calculate the Retained Earnings balance as of Dec 31, 2011.
The balance sheet caption for common stock is the following:
Common stock without par value, 2,000,000 shares authorized, 400,000 shares issued, and 360,000 shares outstanding; $2,600,000
a) Calculate the average price at which the shares were issued;
b) If a cash dividend of $0.60 per share were declared, calculate the total amount of cash that would be paid to stockholders.
d) What accounts for the difference between issued shares and outstanding shares?
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