The stockholders' equity section on the balance sheet of Mangum's, a popular department store, is...
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Accounting
The stockholders' equity section on the balance sheet of Mangum's, a popular department store, is shown below. During the year, the company reported net income of $241,075,000 and declared and paid dividends of $11,914,000.
Stockholders Equity :
Current Year
Last Year
Common stock, Class A116,580,308 and 116,465,495 shares issued; ? and ? shares outstanding
1,166,000
1,165,000
Common stock, Class B (convertible)4,030,929 shares issued and outstanding
40,000
40,000
Additional paid-in capital
772,055,000
782,987,000
Retained earnings
2,497,727,000
?
Less treasury stock, at cost, Class A47,116,748 and 45,340,148 shares
(1,892,581,000
)
(943,560,000
)
Required: 1. What amount was reported in the Common Stock (Class A) account at the end of the current year? Round your answer to nearest whole number.) mmon stock at par value $ 2. How many shares of Class A Common Stock were outstanding at the end of last year and the end of the current year? Last year Current year Number of shares ed in the Retained Earnings acc etained earnings
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