The following account balances relate to the stockholders' equity accounts of Molder Corp. at year-end. Common stock, 10,500 and 10,000 shares, issued and outstanding, respectively, for 2022 and 2021 Preferred stock, 5,000 shares, issued and outstanding Retained earnings (a) (b) What was the amount of net income reported by Molder Corp. in 2022? A small stock dividend was declared and issued in 2022. The market price of the shares issued was $8,800. Cash dividends of $20,000 were declared and paid in both 2022 and 2021. The common stock and preferred stock have no par or stated value. Net income $ (c) Common stock $ Dividends Determine the amounts of any cash inflows or outflows related to the common stock and dividend accounts in 2022. eTextbook and Media Save for Later 2022 $160,800 125,000 300,000 $ Common stock Dividends 2021 $140,000 125,000 270,000 Indicate where each of the cash inflows or outflows identified in (b) would be classified on the statement of cash flows.
The following account balances relate to the stockholders' equity accounts of Molder Corp. at year-end. Common stock, 10,500 and 10,000 shares, issued and outstanding, respectively, for 2022 and 2021 Preferred stock, 5,000 shares, issued and outstanding Retained earnings (a) (b) What was the amount of net income reported by Molder Corp. in 2022? A small stock dividend was declared and issued in 2022. The market price of the shares issued was $8,800. Cash dividends of $20,000 were declared and paid in both 2022 and 2021. The common stock and preferred stock have no par or stated value. Net income $ (c) Common stock $ Dividends Determine the amounts of any cash inflows or outflows related to the common stock and dividend accounts in 2022. eTextbook and Media Save for Later 2022 $160,800 125,000 300,000 $ Common stock Dividends 2021 $140,000 125,000 270,000 Indicate where each of the cash inflows or outflows identified in (b) would be classified on the statement of cash flows.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 18E: Monona Company reported net income of 29,975 for 2019. During all of 2019, Monona had 1,000 shares...
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