Identifying and Analyzing Financial Statement Effects of Dividends The stockholders' equity of DiFrancesco Company at M
Posted: Wed Jul 06, 2022 6:25 am
Identifying and Analyzing Financial Statement Effects ofDividends The stockholders' equity of DiFrancesco Company at March 31, 2019is shown below.
The following transactions, among others, occurred during thefiscal year ended March 31, 2020. April 15, 2019 Declare and pay preferred dividends of$420,000. April 15, 2019 Declare and pay common dividends of $1.50 pershare. October 1, 2019 Execute a 3-for-1 stock split of the common stockwhen the stock price was $147 per share. March 1, 2020 Declare and pay common dividends of $0.70 pershare.
(a) Use the financial statement effects template to indicate theeffects of these separate transactions. Note: Use negative signs with answers, whenappropriate.
(b) At March 31, 2020, the company reported net income for theyear of $8,900,610. Compute retained earnings as of March 31,2020. $Answer
The following transactions, among others, occurred during thefiscal year ended March 31, 2020. April 15, 2019 Declare and pay preferred dividends of$420,000. April 15, 2019 Declare and pay common dividends of $1.50 pershare. October 1, 2019 Execute a 3-for-1 stock split of the common stockwhen the stock price was $147 per share. March 1, 2020 Declare and pay common dividends of $0.70 pershare.
(a) Use the financial statement effects template to indicate theeffects of these separate transactions. Note: Use negative signs with answers, whenappropriate.
(b) At March 31, 2020, the company reported net income for theyear of $8,900,610. Compute retained earnings as of March 31,2020. $Answer