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C11-63. Understanding Shareholders' Meeting, Managerial Communications, and Financial Interpretations The stockholders' equity section of Pillar...

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C11-63. Understanding Shareholders' Meeting, Managerial Communications, and Financial Interpretations The stockholders' equity section of Pillar Corporation's comparative balance sheet at the end of 2014 and 2015 is presented below. It is part of the financial data just reviewed at a stockholders' meeting December 31, 2015 December 31, 2014 Common stock, $10 par value, 600,000 shares authorized; issued at December 31,2015, 275,000 shares; 2014, 250,000 shares . . Retained earnings (see Note). .. Total stockholders' equity... $2,750,000 4,575,000 2,960,000 $2,500,000 4,125,000 2,825,000 $9,450,000 $10,28,000 Note: Availability of retained earnings for cash dividends is restricted by $2,000,000 due to a planned plant expansicn

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